Video Transcript:
A lower payment on your VA loan might actually cost you more money. The VA has a special rule that shows you the real truth. I am David Ghazaryan, and I make sure this rule is always followed. This simple math test tells us if a refinance loan is good or bad. First, we add up all the loan's closing fees, even the VA's fee. Then we divide that total cost by the money you save each month. If the final number is higher than thirty-six, the loan is not approved. Your savings must pay back all fees within three years for it to count. This rule stops anyone from offering you a loan that only helps them. It makes sure every new loan truly saves you money, not just a little. This math ensures your financial safety is the top priority for every loan. Find more details in my article. See the description for platform links.
Read Blog Here: https://www.iqratemortgages.com/blog/floridas-va-irrrl-36-month-recoup-rule-explained
