A lot of veterans ask me how a VA cash-out refinance works, so I put together a simple breakdown for you. It replaces your current mortgage with a new VA loan and lets you take cash from your equity, which can make sense for paying off debt or funding home improvements. https://scarpero.com/va-cashout/

A lot of veterans ask me whether they should do an IRRRL or a cash-out refinance, and the right answer really depends on what you are trying to accomplish. In this article I break down the key differences in plain English so you can see which option fits your situation. Check it out and let me know if you have questions. https://scarpero.com/va-irrrl-refinance-vs-va-cashout/

If you already have a VA loan and rates have come down, I put together a simple breakdown of the IRRRL for you. The big takeaway is that it can let you refinance to a lower rate with far less paperwork, and in most cases there is no appraisal or income verification. Check it out here: https://scarpero.com/irrrl/

I wrote this one to clear up a question I hear all the time: what does your housing history actually need to look like to get a VA loan? The short version is that the VA looks for two years without a payment more than 30 days late, and a payment a few days late does not count against you. I also cover how rent can count as a trade line if you have limited credit, and what to do if your situation is unusual. https://scarpero.com/housing-history-requirements-for-va-home-loans/

I see this catch a lot of veterans by surprise. Lenders look closely at how big a jump your new mortgage payment is compared to what you currently pay, and a big jump can be a red flag even if your credit looks decent. I put together a plain English breakdown of what counts as payment shock and how to handle it. https://scarpero.com/what-is-payment-shock-on-a-va-home-loan/