One of the advantages I received as a service member was being able to sign up with LowVARates for my home improvement loan about a year ago. Although the interest rates of that loan were very much less than others in the market, after 6 months I realized that I was still paying about 1.5% extra while newer loans offered a lower fixed interest.
After discussing the matter with the Help Desk, I was informed of my eligibility for the VA Streamline loan. Although it wasn’t exactly the debt consolidation solution I was looking for, this option provided me with the opportunity of refinancing into new VA loans with lower rates.
With a VA Streamline refinance, I was safe from spending more on my VA loans while interest rates kept on decreasing. In addition, whereas I had to go through different procedures to receive my 1st loan, this refinance process was quick and hassle free. The loan officer assigned with my case managed to cut down my interest rate in less than a month. Plus he also explained that my VA closing costs were now much less thanks to this refinance loan. I knew that signing up with LowVARates was going to have its kicks, but I never expected them to be this good.