VA Refinance Loans For Conventional, FHA, Sub-Prime and Existing VA Mortgages | VA Loan News Blog


UNACCEPTABLE INCOME

Income of less than 12 months in duration.
Education benefits (including payments from the VA for this purpose).
Per Diem income.
Car allowance or mileage reimbursement (unless claimed on the borrower’s tax returns)
Military hazardous duty pay.
Any source of income that cannot be verified.
Foreign employers.
Any unstable sources of income (e.g. significant year-to-year decreases in income for self-employed borrowers).
Illegal activities.
Gambling income
Foster care income (This income can only be used to justify excluding the foster child from the number of dependents and reducing residual income requirement)

Kentucky VA Mortgage Home Lender

VA Refinance Loans For Conventional, FHA, Sub-Prime and Existing VA Mortgages | VA Loan News Blog.

VA Refinance Loans For Conventional, FHA, Sub-Prime and Existing VA Mortgages | VA Loan News Blog

But do you know which VA loan option works for you in your situation? Can a Fannie or Freddie loan be refinanced as a VA mortgage, or can a conventional loan qualify for VA streamline refinancing?

There are several options for VA refinance loans. Borrowers who want to get cash back on the refinancing deal, regardless of the type of mortgage being refinanced must explore their VA Cash-Out Refinancing loan options. These loans are appraisal required and also require credit underwriting, which means you’ll be required to submit a credit application much like your original home loan.

Cash out for VA refinancing is not available for VA Streamline Loans, and the VA home loan program does not offer personal loans–borrowers who want cash back should apply for VA Cash-Out and expect the…

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