Refinancing your VA Loan with New Day Financial

New Day Financial VA Refinance

Veteran homeowners in the market to refinance their existing VA home loan have many lender options and interest rates at an all-time low.  Veteran homeowners interested in going with New Day Financial should understand that they will want to do research and make sure they are getting the best deal they can.  One great place to look is at Low VA Rates.

New Day Financial compared to Other Lenders and Brokers like Low VA Rates.

New Day Financial seems to be extremely qualified to help military families and understand the VA home industry.  New Day Financial provides home loans nationwide to military families.  New Day Financial offers good rates through their services.

Many military homeowners assume that home loan brokers will charge more closing costs and have higher interest rates.  This is definitely not the case.  On the contrary, many brokers like Low VA Rates actually offer lower interest rates than lenders and no additional closing costs.

VA Streamline or VA Hybrid?

Right now veterans can refinance to a fixed 30-year loan at 3.75% or they can get in a five year VA hybrid loan for 2.75%.  Both loan options are the lowest they have been in the history of the VA home loan.  If veterans know they will be in their home for less than 10 years, the VA Hybrid is a great option.  Many veterans confuse the VA Hybrid loan with conventional adjustable home loans during the market crash.  The VA Hybrid is COMPLETELY different.  The VA Hybrid loan will stay fixed at the 2.75% rate for the first 5 years.  After that, the hybrid loan can ONLY move one percentage point per year.  However, the VA Hybrid rarely moves the full percentage point and can also move down is the market improves.

The fixed 30-year loan is idle for veterans looking to stay in their home long term.  If you have plans to stay longer than 15 years in your home you can refinance to 3.75% fixed 30-year loan.

Why Choose a VA Loan?

Many lenders may try to steer veterans away from VA home loans, but do not be swayed.  The VA loan is the best loan on the market right now and veteran’s homeowners are missing out on great benefits by looking into other loans.

VA home loans have many significant advantages over an FHA or conventional loan.  If veterans come across a broker or lender that is trying to convince them otherwise, they would be wise to move onto another company.

Make sure your situation is Improving

Going to a lower interest rate does not always translate into the best financial decision.  With closing costs added to the loan, the monthly savings needs to be enough so veterans can make their money back in a reasonable time frame.  If veterans are looking to stay in the home long-term and make back the closing costs in less than 10 years typically its worth refinancing.  If veterans are unsure about their situation, please contact a VA loan officer at or go to our live chat for further assistance.

New Day Financial VA Refinance

As always veterans, make sure to check VA streamline rates through New Day Financial, and other brokers and lenders to see which can offer you the best streamline refinance for your situation.

19 thoughts on “Refinancing your VA Loan with New Day Financial

  1. There is a lower percentage rate now and want to take advantage of the lower rate . We are now paying 5 percent.

    Please Advise.
    We are also looking at

  2. Roger,

    If you are at 5% you definitely want to look at refinancing. What number or email can we contact you at?

  3. I don’t know whether it’s just me or if everyone else encountering problems with your blog.

    It looks like some of the written text in your content are
    running off the screen. Can someone else please provide feedback and let me know if this is happening to them
    as well? This may be a issue with my internet browser
    because I’ve had this happen previously. Thanks

  4. John have you tried calling our office to speak to a loan officer? We would love to assist you.

  5. I have a VA Loan on a home that is currently owner non-occupied, I had lived in it until a couple years ago, I am looking at leasing it another couple of years—the current mortgage,VA backed, is an ARM that re-sets in April. The current mortgage balance is $334, the estimated value,by Zillow and other sites is $426,000. What would be the costs if I re-fi to a longer ARM,perhaps a 5 year term. Thanks

  6. I saw your add for refinance with possible cash out. I recently bought a building and need to
    hire a contractor to assemble it . Also i need to finish the fencing on my five acres which is 80%
    finished. My phone number is 541-416-0471-Thanks David. email:

  7. David, Thanks for reaching out. We will have our team reach out to you to discuss options. Mending fences, or building what may be we want to be here to help you as you have helped our freedoms in the past. Talk to you soon.

  8. Thanks for reaching out George. We do have a team dedicated to non VA Loans. Please feel free to call (801) 895-7230 to get started. Our Elevate Mortgage Group would love to extend the same courteousness we do here.

  9. Keep in Mind that VA Loans can be done on Manufactured Homes too! We have a bunch of Veterans doing loans on Manufactured homes.

  10. Now having a FHA mortgage, is it possible to convert to a Streamline VA ? I am a US Air Force Veteran of 28 years.

  11. Great Question Albert. You can convert your FHA to a VA but it cannot be a streamline. A streamline refinance is only if you currently have a VA and it is staying VA. An FHA to VA refi is possible and we would be happy to explain further about what would be needed for that.

  12. I live in Texaas and have a 4.75 VA loan. I was wonderibng two things. 1.Can you refinance to a lower rate and get any cash in Texas? 2. If not what does the hybred loan cost in refginance charges to lender? My present loan is around 168000. , I need around 20 grand for credit card debt and a new air conditioner.

  13. Texas is a unique state with its mortgage and real estate laws, so to be clear we would need to look into what kind of loan you have now and get more specific details from you. It is however, possible to get cash out in TX in some situations. On the hybrid refinance there are ways to have more or less in lender fees depending on what rate you choose. This will explain how the rates vs fees work

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*Annual savings calculator based on 2015 monthly average savings extrapolated year-to-date.