Asked by Mark And Deborah  |  Submitted November 03, 2017

How can we find the best VA Loan to refinance our home, which is currently a FHA Loan?

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  Answers  |  3

November 03, 2017

Thanks for the question, I would begin by asking your present lender/servicer for options. I would then contact several loan officers for options, maybe contact the last firm you used or ask for some referrals from friends. If you can avoid using a VA loan it might be worth it as there is normally a large VA funding fee on refinances (unless you are a disabled vet) The ideal program would be a regular conventional loan (assuming you have 20% equity now and can qualify) Feel free to call me or email me with any questions.

$commenter.renderDisplayableName() | 01.20.18 @ 19:36

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November 14, 2017

1) contact the present lender for options
2) contact some local lenders/banks/credit unions for options
3) ask friends and co-workers for referrals for options

Compare their options and make a decision. If it's possible to use a "conventional loan" this might be better than a VA option as you would be able to avoid the VA funding fee.


Dave Skow

$commenter.renderDisplayableName() | 01.20.18 @ 19:36

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November 14, 2017

The key will be looking for a lender that specializes in VA so that you can get some of the best pricing options available. You will want to also look at the different options on VA versus conventional and look at the rate on VA where the lender pays the VA funding fee for you with lender credit compared to the conventional loan rate available that may have monthly PMI on it. Odds are you may be able to get a VA loan with no funding fee rolled in and have a lower payment, lower rate than a conventional loan. If it is your first VA loan the funding fee is reduced which allows the lender to do a lower rate and still cover the fee for you. Feel free to contact me for me details as we see this scenario quite often.

Dustin McAlister
National Sales Director
Internet Lending Division
Fidelity Bank

$commenter.renderDisplayableName() | 01.20.18 @ 19:36

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