Does the VA offer personal loan options?
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Video Description:
The VA loan program is strictly focused on home loan options, which, sadly, means that they don't offer any type of personal loan option.
However, if you DO own a home, you can get a VA cash-out refinance loan to take out equity as cash. Since the VA doesn't have restrictions on how you can use this cash, you're free to do whatever you want with it!
An upside of a VA cash-out refinance home loan is that the interest rate is often lower than the rate you'd get on a personal loan. Also, depending on your current rate, you may still be able to lower it and your monthly payment on top of getting some cash in your pocket. If you think that sounds pretty great (we sure do!), we'd love to help you see if a cash-out refi is right for you.
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DISCLAIMER: Eric is not a licensed loan officer. All advice given is for informational purposes only. For more detailed information, please call in and ask to speak with a licensed mortgage loan originator. Archived video notice: This video is not current and may contain content that, while accurate when recorded, may not reflect current market conditions. As is customary on the YouTube platform, older videos remain in our account for transparency and statistical purposes, and we do not necessarily have control over which older archived videos YouTube’s algorithm may suggest for you. For that reason, please always check the date of a video to ensure that it is dated recently before relying on its contents. The mortgage market is very dynamic and laws, regulations, rates, and programs are always changing. If we have a more up-to-date video on the same subject, you should be able to sort our videos by date uploaded on our main channel landing page: / lowvarates . This video is not applicable to borrowers in the State of Washington.
This video is not intended for residents or homeowners in the states of NY or MA.
