Easy consolidating refi

Being delinquent does not make you ineligible to refinance.

One mortgage payment that was less than 30 days late in the last 12 months is OK, as long as you're current now.Finally, whether you've been delinquent or not, the VA wants to make sure borrowers benefit from any refinancing.The government requires lenders to show you the interest rate and monthly payments for the new loan versus the old loan, as well as how long it will take for you to recoup your closing costs from refinancing with the lower monthly payment on your new loan.Paying extra on your mortgage isn't always the smartest use of your money.While the VA does not have a minimum credit score requirement, lenders typically want to see a score of at least 620.Or you can take a slightly higher interest rate in exchange for the lender paying the loan costs.

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