Qualifying for a Loan
In order to qualify for VA streamline refinance, you first must be a veteran or a qualifying family member like a child or parent. This is very important because many people have tried to apply for one, and it just doesn’t work out. To be eligible for a refinance, you must have a va loan in place on your home to begin with. If the loan on your house is not a va loan, than you can not have it refinanced as one. A va refinance loan works like any other, it pays off the original loan with the second loan and you usually get better lending terms and payment options.
