You are not able to convert any loans.. you can however refinance, which would pay off the VA loan with the proceeds from the new loan.. but VA is the best loan product out there.. and it's very likely you would pay a higher rate if you refinanced into a conventional loan.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
You will have to refinance. Be sure you have sufficient equity, and that you will have a net lower rate if you change.
You will have to refinance in order to change loan programs. When you refinance, you will take out a new conventional loan and use it to pay off your current VA loan. Contact a local lender to find out if you qualify for a refinance.
You can't just convert a loan, so I assume you mean refinance from a VA loan into a standard conventional loan... Sure. You can do that... www.VA-IRRRL-Loan-MN.com
Absolutely. This begs the question of why however. A VA to VA refinance for purposes of a bettering your rate and terms is tough to compete with. If the reason is because of divorce or to free up your VA benefit. The other question I would ask is: Do you have equity in the home? VA allows for a Interest Rate Reduction Loan (IRRL) that is allowed with negative equity and if you are in that situation, you would not be able to convert to a conventional.
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