Lower interest rates mean lower monthly payments in addition to saving money of the overall cost of a mortgage. This applies to anyone, not just those with a VA home loan. However, people with conventional home mortgages are having a hard time qualifying for refinancing. Less than perfect credit scores are keeping many people from getting the favorable interest rate they need to make refinancing worthwhile.

Veterans are not having this problem. Most veterans with a VA home loan can qualify for a VA streamline refinance. The VA streamline refinance was designed to lower eligible veterans monthly mortgage payments by lowering the interest rate on their VA home loan. If that wasn’t enough, the VA streamline accomplishes this in record time.

Veterans can capitalize on lower interest rates by applying for a VA streamline refinance to replace their existing VA home loan. They don’t have to worry about many of the qualifiers that other people who don’t have a VA home loan have to worry about. The VA is trying to help veterans remain in their homes by making monthly mortgage payments more affordable.

They are making the process move quickly so veterans can start enjoying extra money each month in record time. How’s that for government efficiency? It’s rare that any government backed loan program can move so fast from the application to the approval, but this time they seemed to get it right.