Expatica is the international community’s online home away from home. A must-read for English-speaking expatriates and internationals across Europe, Expatica provides a tailored local news service and essential information on living, working, and moving to your country of choice. Reserve requirements will vary from bank to bank, and from mortgage program to mortgage program, but you can get a good idea of what you may need to provide for different property types. VA Loans and Seasoning. The same basic rules apply. With in-depth features, Expatica brings the international community closer together. ... 9 VA Refinance. ... Keep in mind that many lenders have a six-month “seasoning period” before a current borrower can refinance with them. Conventional loan refinance rules. VA loans work much the same way as FHA loans when it comes to seasoning requirements. Yes, that’s a lot of “R’s,” but a VA streamline refinance is easy to execute and can save you a lot of money now that mortgage rates are so low. This gives the VA and the lender time to see that you can make your housing payments on time. The VA also offers a streamlined “VA loan to VA loan” refinance, known as an “Interest Rate Reduction Refinancing Loan,” or IRRRL for short. – Owner-occupied residences typically require two months PITI in reserves, but may ask for up to six months. VA … If you wish to take advantage of the VA IRRRL, Interest Rate Reduction Refinance Loan, you must wait at least six months before you can refinance.
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