VA Loan Products

As Low As
500
Loan-To-Value
100
VA Loan Products

Standard Purchase

Here at RAC, we work one-on-one with mortgage brokers, originators, and processors across the country to restructure VA loans and find efficient ways to get them approved and closed quickly. We have in-house VA underwriting specialists dedicated to helping you close your loans quickly.

The RAC Advantage

No limit on acreage
RAC accepts Rent Free Letter
Manufactured home lending
No downpayment – 100% financing
Seller can pay 100% of Borrower’s Closing Costs
With Mid-Scores of 580+, RAC will go up to 50% Debt-To-Income (DTI); if below 580, max DTI is 45%

RAC underwrites to the VA guidelines. Absolutely no overlays, ever.
24-Hour Underwriting. Even as fast as Same-Day – in by noon EST, out by 6 P.M. EST
Choose your own AMC. Pick a RAC Approved AMC or simply bring your own.
Quick Closings. RAC is known as the Home of the 7-Day Close

VA Loan Products

Interest Rate Reduction Refinance Loan (IRRRL)

The VA Interest Rate Reduction Refinance Loan (IRRRL) lowers a borrower’s interest rate by refinancing his/her existing VA home loan. An IRRRL can only be made to refinance a property on which your borrower has already used his/her VA loan eligibility. It must be a VA to VA refinance, and it will reuse the entitlement he/she originally used.

The RAC Advantage

Quick and easy refinance for VA borrowers
Does not require a credit check or home appraisal
Closing costs can be rolled into the cost of the loan

VA Loan Products

Cash Out Refinance

Another popular refinancing option is the VA Cash-Out Refinance, which allows you to tap into your home’s equity and extract cash. This Program is only available if borrower has an existing mortgage on the property. Any mortgage program is acceptable – borrowers aren’t required to have a VA Loan in order to choose this option; many homeowners use the cash-out option to refinance from an FHA or conventional loan.

The RAC Advantage

Qualified homeowners may be able to refinance up to 100% of their home’s loan-to-value (LTV)
Proceeds can be used for home repairs, remodeling, and other needs
Ability to use cash-out option to refinance any loan type (USDA, VA or Conventional)

VA Loan Products

Energy Efficient Mortgages (EEMS)

This exciting loan product covers the cost of making energy efficient improvements to a dwelling. They can be made in conjunction with a VA loan for purchase of an existing dwelling or a VA refinance loan secured by the dwelling.

The RAC Advantage

$3K up to $6K increase on existing property
Energy efficiency improvements up to $3K will normally be offset by a reduction in utility costs

Applies to a list of Acceptable Improvements, including (but not limited to):
solar heating and cooling systems,
caulking and weather stripping,
storm windows and/or storm doors.