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? about divorce, house refinance

So I am getting divorced. I want to keep, or try to keep the house. I have to refinance though to get his name off the loan. We currently have a VA mortgage, he is the one eligible for the VA benefit. My question is, I have been going on websites running quotes on interest rates and stuff. Since I would be getting the loan on my own this time, would it be considered a refinance, or basically a new loan? My state has down payment assistance programs for new homebuyers that I meet the income guidelines on, but is it considered a refi or not? I'm getting confused lol

Answer Question

Asked by Anonymous at 12:31 PM on Apr. 5, 2009 in Money & Work

Answers (2)
  • Completely new loan because he will be selling his share to you.

    Answer by gdiamante at 12:34 PM on Apr. 5, 2009

  • New loan..........I'm doing the refinance thing, and we have a VA loan too. I can take him off and do a refinance FHA, but that is not the best deal. Contact your current mortgage holder. From a week of looking into this that, and even a friend's referral of a broker, my mortgage co. has them all beat $$$-wise, with the least hassle.


    Answer by Teachermom01 at 1:42 PM on Apr. 5, 2009

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