The AZ Mortgage Man is helping all Veterans lower their monthly mortgage payment by refinancing with the crazy low rates available right now! Many times your rate can be in the low 2s! Get a Free Consultation today!
This is the best time to refinance your mortgage! Special pricing for all veterans was just announced and the deadline is on Veteran’s Day, November 11, 2020.
As a current service member or veteran, you are entitled to certain home loan benefits. If you took advantage of the availability of a VA loan when purchasing your home, you may be able to once again save money on your mortgage. A VA Streamline Refinance Loan or IRRRL is an option to consider if you’re looking for a way to reduce your monthly mortgage payment.
Refinancing your home loan with a VA-backed IRRRL can not only save you money in both the short-term and long-term but can make the entire process much easier. And, with the AZ Mortgage Man, you’ll benefit from our VA loan expertise, competitive interest rates, and 5-star customer-focused mortgage process.
Refinancing a mortgage means to replace a current mortgage with a new one. The new home loan will have a different interest rate, repayment period, and amount.
Typically, this new home loan will offer better terms, particularly lowering the interest rate, thereby reducing the monthly payments. This is often possible because the borrower is in a better financial position to qualify for improved loan terms, the current market interest rates are lower than when they took out the original loan, or when a borrower switches from an adjustable-rate mortgage to a fixed-rate mortgage.
Borrowers can choose to start over on a brand new 30-year fixed mortgage and maximize their monthly savings or they can customize the term by choosing a new term that matches the number of years left on their current loan. For example, if a borrower is focused on paying off their home as quickly as possible and is seven years in on a 30-year fixed mortgage and has 23 years left, they can choose to streamline their new VA loan to a lower 23-year fixed rate with Griffin Funding.