Hey everybody, it's Jimmy Vercellino here and today I'm going to talk to you about VA loans and refinancing in particular, how can you, as the veteran refinance your VA loan?

That's an interesting question, right? Well, simply stated, you refinance a mortgage loan just like you would buy a house. In other words, you'd contact your mortgage lender. You tell them a little bit about what it is that you're looking to accomplish. Are you wanting to lower your interest rate because you see an opportunity?

Or perhaps, you heard on the radio or you're seeing scuttle about rates going lower? So now you want to reduce that interest rate and pay less to the bank every month in the form of monthly payment and interest. Never a bad idea to consider, by the way. All right?

So that would be one reason why somebody why somebody would want to consider a refi or the second piece of all of this would be maybe they want to take cash out to pay off high interest rate credit card debt or do a renovation or remodel or maybe even use it for investments.

Okay, that could all be reasons why somebody wants to do a refinance now.

The first step in order to take advantage of a refinance is to consult with a mortgage lender, somebody like myself, who's going to review your scenario and advise you on what they think is possible and go over the expectations of the refi, give you some numbers to take into consideration.

And if you like the way those numbers look, consider submitting an online loan application with the mortgage lender, who will out all that information together for you and then lock in those terms in which you've discussed previously.

Good to go? And from there it's business as usual. You're taking advantage of the VA home loan benefit and 30 to 45 days later, you're closing on that new loan that's been originated by the mortgage lender.

Now you might have a lower monthly payment or you might be getting that cash back in closing, or maybe it's a mixture of the two. My name is Jimmy Vercellino. For more questions, we have answers when it comes to a VA home loan and refinancing.