Somerset Investors Corp. Mortgage Refinance, Reverse Mortage, Home Loan
  Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance
Search Somerset:
Print this page    E-mail this page

VA Mortgage Refinance in Virginia

We make it easy to get the lowest mortgage refinance interest rate in VA.

Our loan specialists can customize a loan that is perfect for your needs. In no time at all, VA residents can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.

When Should I Refinance?

The best time to refinance is when interest rates in Virginia drop below the rate of your current mortgage.  With a lower interest rate, you'll save money on your mortgage payment every month.  Be sure to read our article titled Reasons to Refinance Now.

Turn Your Adjustable Rate into a Fixed Rate

With adjustable rates on the rise VA residents can benefit greatly from refinancing your home for a low fixed rate.  These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.

Cash-Out Refinancing

Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash.  You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt.  How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.

Eliminate PMI

Private Mortgage Insurance is usually required if your downpayment on your home was less than 20 percent.  If your home equity has increased since your purchase, you may have enough equity to elimate that PMI payment by refinancing your mortgage.

Save Thousands in Interest

When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years.  Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan.  However, in the long-term you are saving thousands in interest.  And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.

Mortgage Refinance Calculators

Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
Refinance Points Calculator 

Refinance Articles

Reasons to Refinance Now
Beat the Subprime Mortgage Crisis 

Local bad credit mortgage refinance directory for VA :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Saint Charles Sedley Spencer Stevensville
Saint Paul Selma Sperryville Stony Creek
Saint Stephens Church Severn Spotsylvania Strasburg
Salem Shacklefords Spout Spring Stratford
Saltville Sharps Spring Grove Stuart
Saluda Shawsville Springfield Stuarts Draft
Sandston Shenandoah Stafford Studley
Sandy Hook Shipman Staffordsville Suffolk
Sandy Level Shortt Gap Stanardsville Sugar Grove
Sandy Point Singers Glen Stanley Sumerduck
Sanford Skippers Stanleytown Surry
Saxe Skipwith Star Tannery Susan
Saxis Smithfield State Farm Sussex
Schley Somerset Staunton Sutherland
Schuyler Somerville Steeles Tavern Sutherlin
Scottsburg South Boston Stephens City Sweet Briar
Scottsville South Hill Stephenson Swoope
Seaford Sparta Sterling Swords Creek
Sealston Speedwell Stevensburg Syria
Seaview

Return to our bad credit mortgage refinance page

Bad Credit? We can help!

Call for COMPLETE details NOW!

(800) 675-9783

Virginia News
Islamic Studies Program Expanding

George Mason University is expanding its Islamic studies program with a $1.5 million grant from a think tank once raided as part of a federal terrorism investigation.


Second economic stimulus could help Virginia roads

If the federal government comes up with an economic-stimulus package for the nation's transportation infrastructure, Virginia will be ready to take advantage of it.


NOVA Contractor Charged with Murder in Afghanistan

A defense contractor who provided personal security to Afghan and Iraqi leaders has been charged with killing an Afghan civilian.


Va. officials seek to delay carrier base in Fla.

Virginia officials are asking the Navy to delay its plan to base a nuclear-powered aircraft carrier in Florida until President-elect Obama takes office.


Education board won't seek more money for standards

The Virginia Board of Education has decided not to ask for additional funding for the Standards of Quality, state-mandated minimum educational objectives for public schools.


Third GOP Runner for AG Spot

Arlington lawyer Dave Foster has entered the Republican Party's three-way sweepstakes for the 2009 attorney general race.


Cantor named Republican whip in U.S. House

Rep. Eric Cantor became the No. 2 Republican in the U.S. House Wednesday, winning an uncontested election as party whip.


Navy Carrier Potential Move Controversial

The Virginian-Pilot reported that the Navy's preference to base a nuclear-powered aircraft carrier at Mayport Naval Station reignited the political rivalry between Florida and Virginia for Navy ships, sailors ...


Bengal tiger bites young worker at Virginia zoo

A 16-year-old employee of a small Virginia zoo is recovering after a tiger bit her when she tried to pet it.


Va. Budget Shortfall Worsens

In dismaying detail, legislative budget writers got their fullest look Tuesday at a darkening fiscal crisis that will soon force them to cut government priorities once held harmless.


V-DOT suggests early Thanksgiving travel

The Virginia Department of Transportation has some advice for motorists traveling during the Thanksgiving holiday - leave early.


Dona t bet on swearing-in tickets

Talk about political long shots. Tens of thousands of Virginians are asking congressional offices for tickets to President-elect Barack Obama's presidential inauguration on Jan.


Virginiaa s Attorney General unveils new anti-gang video

In a continuing effort to educate Virginians about the threat posed by gangs, Attorney General Bob McDonnell introduced a powerful new video today.


Murdered LDS missionary trial begins

The trial of a Virginia man accused of killing one Mormon missionary and wounding another in 2006 is under way in Chesapeake.


Virginia Tech to Become Kids' Tech, Too

Virginia Tech is launching a program to introduce children to scientific research in a university setting.


DC-area police launch safety initiative

Police in the District of Columbia, suburban Maryland and northern Virginia on Monday launched "Street Smart," a weeklong campaign aimed at getting pedestrians, bicyclists and motorists to follow traffic laws.


Virginia Museum of Natural History names 1st curator emeritus

The Virginia Museum of Natural History has named retired curator Lauck "Buck" Ward as its first curator emeritus.


Rural localities stretch dollars: As economy falters, they trim everything from lights to patrols

Richmond Times-Dispatch, Va. Middle Nov. 16--Facing a haggard economy, rural governments across the state are reaching deep into their bag of tricks to find ways -- sometimes novel ones -- to save dollars.


Intense gubernatorial race under way

Now that the dust is settling on this year's election, candidates running in next year's Virginia governor's race are prepping for an intense statewide race.


Get ready NOW for winter

Virginia is overdue for a major statewide winter storm, and citizens should get ready now for the upcoming snow and ice season.


Save time with our easy online mortgage application.
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
 
"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
© 2006 Somerset Investors Corp. All rights reserved.
home | about us | Mortgage Blog | contact us | privacy policy | state licensing | search | links | link to us | site map
mortgage calculators | refinance | purchase | fha | reverse mortgage | divorce buyout | debt consolidation
Eqaul Housing Lender Member of the Better Business Bureau (BBB) Member of the National Reverse Mortgage Lenders Association (NRMLA)