I just closed on Monday. My interest rate is 3.875%. I've seen rates for VA 3% to 3.25%. Going down to even a 3.5 will save me almost $200 a month. Does anyone know if there is a timeframe for the VA streamline refi. How many people think I should even bother with this to begin with? Thanks!
Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010) Current Score (Lender Pulled):TransUnion: 684 (12 SEP 2016), Equifax: 696 (12 SEP 2016), Experian: 679 (12 SEP 2016) Goal Score:All scores All scores at least 700+ by December 2017!!
Just close on my first va loan, a refi 9/16. I closed in six weeks but could have done it in 5. I understand va streamline is much faster with no appraisal, similar to my auto refi with Penfed. With $200 monthly saving/month I would take it in a heartbeat. 5 years ago I refi conventional and saved $189/mo and it was a lifesaver.
Data points, the 3.25 va fixed with Penfed was quoted to me in February 2016 with eq727 and again aug 2016 with tu750. The 3.0 with points buy down. If you don't have to pay funding fee, more savings.