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USAA is The American Legion's preferred provider of financial services. Offering a range of top-rated financial and insurance products and services. USAA welcomes honorably discharged U.S. military veterans, active-duty troops and qualified family members and descendants of those who have served. USAA contributes funds to American Legion programs when members join through a dedicated channel: or by calling toll-free at 1-877-699-2654.

Financial Questions & Answers

Financial Questions & Answers


I currently have VA home mortgage at 5.5 percent. I want to get conventional mortgage and leverage current low rates. Besides having 20 percent equity, what other guidance can you provide and what are the best options? -Jim


Why not look at refinancing with a VA loan? You could still take advantage of today’s low rates, you won’t get penalized from a rate standpoint for using a VA loan, and you would likely be able to reduce costs and cash required at closing. With a VA interest rate reduction refinancing loan, you could refinance without an appraisal and the only cost the VA requires is a one-half percent funding fee which can be rolled into the loan. This could be a very good option. Check it out and as with any mortgage transaction, shop around.