Cash Out Refinance
El Paso VA Cash Out Loans will enable you to pull equity out of your home up to 100% of your home’s value. Here are some reasons why you may want to do this:
- Pay off other higher interest debts. Bring down your monthly obligations significantly, and transfer your debts to a lower interest, tax deductible option.
- Finance a vacation. Have you been wanting to go on a nice vacation? You can finance it through your El Paso VA Cash Out Loan.
- Invest. Pull out your equity and put it to work in higher-yield investments.
- Start a business. Using your home equity to finance a new or existing business can be a low interest option to get you going.
- Help your kids with college. Pull out the funds you need to help your kids get through college.
- Anything else. VA will not need to verify why you are pulling the cash out! You can keep your reasons private.
How do El Paso VA Cash Out Loans work?
You will have to qualify like with most loan programs, but the standards are not strict. You must have a minimum credit score of 620, and be 2 years out of a bankruptcy, if you have had one. In addition, you must be employed, and have an acceptable “debt-to-income” ratio, or the percentage of your monthly debts compared to your income.
Once we have determined your eligibility, the process typically takes about 30 days, and you will get to skip a mortgage payment the month after you close! We will need to get your home appraised, and you can borrow up to 100% of the value as determined by the appraisal.
Wondering what your rate and payment will be? Use our no obligation El Paso VA Mortgage Rate quote and we will get you an answer fast. We are also standing by to serve you, and would be honored to do so. We believe in honest answers and straight talk, and will treat you with the respect you deserve!
El Paso, Texas 79912
P: 915-595-1112Email: email@example.com
This website is not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.
Texas Mortgage Banker Disclosure
Pursuant to the requirements of Section 157.007 of the Mortgage Banker Registration and Residential Mortgage Loan Originator License Act, Chapter 157, Texas Finance Code, you are hereby notified of the following:
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT http://WWW.SML.TEXAS.GOV A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CASUED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIUMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT http://WWW.SML.TEXAS.GOV.