Author: Debra G. Briscoe, Instructional coordinator
Answered Sunday, October 24, 2021Answer:
VA loans can be refinanced as often as desired, but typically lenders may require a minimum of five years before they will approve such a request.Author: James V. Standifer, Physical oceanographer
Answered Monday, October 25, 2021Answer:
It's not unheard of to refinance a VA home loan as many times as desired. The VA only prohibits the refinancing of the original, primary residence for more than 13 times and any subsequent loans that include proceeds from mortgages on an original, primary residence shall also be subject to the prohibition. There is no limit on how many times you can refinance a home other than what your financial institution will allow.Author: Frieda L. Brown, Crop farm manager
Answered Monday, October 25, 2021Answer:
You can refinance VA loans up to three times, but after the third time you'll need something other than a VA loan to get approved for mortgage financing. This is because refinancing over and over depletes the equity in your home quickly if it holds little or no appreciation while paying off older mortgages each time. So before proceeding with refinancing for the fourth time, consider whether there's anything else you can do to make your home more valuable (adding on an addition, buying adjacent property), so you have enough equity to repay yourself when it comes due.
MOST READ