Can I still do a streamline loan after a VA cash-out refinance?
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Video Description:
Let's cut to the chase: Yes! You can totally do a VA streamline refinance after doing a VA cash-out refinance. But there are some conditions you'll have to meet first.
For starters, the cash-out loan will need to have seasoned for enough time. Basically, you'll have to have made at least 6 consecutive monthly payments on the cash-out, AND you'll have to wait a minimum of 210 days from the first payment due date.
In addition to allowing enough time to have passed, there are two more conditions you have to meet before you can streamline. One is that doing the streamline will need to provide at least one approved net tangible benefit, such as lowering your rate or moving from an ARM loan. The second is that you must be able to recoup the closing costs from the streamline within 36 months.
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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. 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.
