Jump to content

  • veteranscrisisline-badge-chat-1.gif

  • Fund HadIt.com

    $2,133.00 of $1,500.00 Donate Now
  • Advertisemnt

  • 14 Questions about VA Disability Compensation Benefits Claims


    When a Veteran starts considering whether or not to file a VA Disability Claim, there are a lot of questions that he or she tends to ask. Over the last 10 years, the following are the 14 most common basic questions I am asked about ...
    Continue Reading
  • Most Common VA Disabilities Claimed for Compensation:   


  • Advertisemnt

  • VA Watchdog

  • Advertisemnt

  • Ads

  • Can a 100 percent Disabled Veteran Work and Earn an Income?

    employment 2.jpeg

    You’ve just been rated 100% disabled by the Veterans Affairs. After the excitement of finally having the rating you deserve wears off, you start asking questions. One of the first questions that you might ask is this: It’s a legitimate question – rare is the Veteran that finds themselves sitting on the couch eating bon-bons … Continue reading

Recommended Posts

Hello, I'm wanting to refinance my VA loan, since my credit score has gone up.  I get tons of junk mail about it. I just want to know who's legitimate, please. This is my first home and first year of my VA loan.


Thank You,


Link to post
Share on other sites

  • Replies 7
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

It would require many more details for us to advise you.  However, some general principals apply: 1.  If you dont plan on staying in your home "At least" the next 4 or 5 years, you are probably b

We were in this same situation a few years ago  we finance at 5.5%   back when the interest rates were up  obviously...we refinance with a better interest rate about 12/13 years ago. They do have

Thanks for that. Yes, If we can get a 2.5 or less, that would be great. I think I'll wait a little longer. I want to have the best credit to get the lowest rate. If I get the lower rate, I'll use the

  • Moderator

It would require many more details for us to advise you.  However, some general principals apply:

1.  If you dont plan on staying in your home "At least" the next 4 or 5 years, you are probably better off staying where you are at because the costs of refinancing your loan "takes time to be recovered" with a lower payment.  

2.  It makes a huge difference what interest rate you are paying now.    Most of the time, you dont want to refinance "unless" your new interest rate is about 2 percent lower.  So, if your old rate is 5% and you can get 3%, its probably worth it provided that you stay in your home for 5 years or more.  

3.  It also makes a huge difference in "how much it costs to refinance".  Do not "buy into" their statements that its free.  It isnt.  If the company charges 2000 to refinance, this means your principal balance goes "up" 2000 dollars.  So, if you saved 100 dollars each month, with a lower payment, then it would take 20 months to break even.  BUT WAIT!!!  That sounds good, but its not so.  


     You owe 100,000 (I like round numbers).  Your interest rate is 6 percent but you have been paying on that loan for 10 years.  You only have 20 more years to go and it will be paid off.  Again, lets say it costs 2000 to refinance, and your new principal you owe is 102,000.  Again, lets say your payment goes down 100 per month.  So, you break even after 20 months right?  Wrong!!  After 20 months YOU STILL OWE and have to pay 28 more years, and if you kept your old loan, you would only need to keep paying 18 more years, so you wind up paying payments for 10 more years!!!

      Dont forget that!!  (Someone "selling" you a loan often forgets to tell you that, even tho you save 100 per month, you pay for 10 more years!  That is not a good deal!

     If you have 20 years to go, and have lived in your home, figure the cost refinancing it for 20 years..not the 30 years that sounds like a lower payment.  

      You really have to analyze it carefully, and fortunately Im a math nerd and can figure it out, but I cant crunch numbers when I dont have any numbers to crunch!

       I know you want a simple answer, but its a complex problem and it takes a more thought out answer.  


  • Like 1
Link to post
Share on other sites

Thanks, I just wanted to get a lower interest rate. I'm less than a year into my loan. I'll keep researching.


Link to post
Share on other sites
  • Moderator
Posted (edited)

If you lived there only a year, then its unlikely it makes sense to refinance, "unless" your current interest rate is over 4 percent.  If a new loan is only a half percent, or 1 percent less, then it probably wont make sense to refinance  now.   

Any savings you would have would likely be absorbed by the costs of refinancing.  But, dont take my word for it, put a pencil to the numbers.  You may have special circumstances where this makes sense.  

I refinanced my truck last year.  Basically I got a bunch of incentives only available if I financed through GM.  So, I got my incentives and refinanced through my credit union at a lower rate, and it cost almost nothing to refinance (under 50 dollars or so). 


Edited by broncovet
Link to post
Share on other sites
  • Ads

  • Ads

  • Similar Content

    • By buckeye46
      Hi everyone,
      In the last year and a half I consider myself very blessed... Approved for 70% disability, Approved for Voc Rehab (Haven't started yet), Approved for TSGLI, Started a steady job and was promoted (VA Call Center), Refinanced the house yesterday, and got engaged. I would like to thank Hadit for helping me get back on my feet and having this great resource available for all vets! My hat is off to all of you!!
  • Ads

  • Our picks

    • I already get compensation for bladder cancer for Camp Lejeune Water issue, now that it is added to Agent Orange does it mean that the VA should pay me the difference between Camp Lejeune and 1992 when I retired from the Marine Corps or do I have to re-apply for it for Agent Orange, or will the VA look at at current cases already receiving bladder cancer compensation. I’m considered 100% Disabled Permanently 
      • 10 replies
    • 5,10, 20 Rule
      The 5, 10, 20 year rules...

      Five Year Rule) If you have had the same rating for five or more years, the VA cannot reduce your rating unless your condition has improved on a sustained basis. All the medical evidence, not just the reexamination report, must support the conclusion that your improvement is more than temporary.

      Ten Year Rule) The 10 year rule is after 10 years, the service connection is protected from being dropped.

      Twenty Year Rule) If your disability has been continuously rated at or above a certain rating level for 20 or more years, the VA cannot reduce your rating unless it finds the rating was based on fraud. This is a very high standard and it's unlikely the rating would get reduced.

      If you are 100% for 20 years (Either 100% schedular or 100% TDIU - Total Disability based on Individual Unemployability or IU), you are automatically Permanent & Total (P&T). And, that after 20 years the total disability (100% or IU) is protected from reduction for the remainder of the person's life. "M-21-1-IX.ii.2.1.j. When a P&T Disability Exists"

      At 55, P&T (Permanent & Total) or a few other reasons the VBA will not initiate a review. Here is the graphic below for that. However if the Veteran files a new compensation claim or files for an increase, then it is YOU that initiated to possible review.

      NOTE: Until a percentage is in place for 10 years, the service connection can be removed. After that, the service connection is protected.


      Example for 2020 using the same disability rating

      1998 - Initially Service Connected @ 10%

      RESULT: Service Connection Protected in 2008

      RESULT: 10% Protected from reduction in 2018 (20 years)

      2020 - Service Connection Increased @ 30%

      RESULT: 30% is Protected from reduction in 2040 (20 years)
        • Like
      • 53 replies
    • Post in New BVA Grants
      While the BVA has some discretion here, often they "chop up claims".  For example, BVA will order SERVICE CONNECTION, and leave it up to the VARO the disability percent and effective date.  

      I hate that its that way.  The board should "render a decision", to include service connection, disability percentage AND effective date, so we dont have to appeal "each" of those issues over then next 15 years on a hamster wheel.  
    • Finally heard back that I received my 100% Overall rating and a 100% PTSD rating Following my long appeal process!

      My question is this, given the fact that my appeal was on the advanced docket and is an “Expedited” appeal, what happens now and how long(ish) is the process from here on out with retro and so forth? I’ve read a million things but nothing with an expedited appeal status.

      Anyone deal with this situation before? My jump is from 50 to 100 over the course of 2 years if that helps some. I only am asking because as happy as I am, I would be much happier to pay some of these bills off!
      • 13 replies
    • I told reviewer that I had a bad C&P, and that all I wanted was a fair shake, and she even said, that was what she was all ready viewed for herself. The first C&P don't even  reflect my Treatment in the VA PTSD clinic. In my new C&P I was only asked about symptoms, seeing shit, rituals, nightmares, paying bills and about childhood, but didn't ask about details of it. Just about twenty question, and  nothing about stressor,
  • Ads

  • Popular Contributors

  • Ad

  • Latest News
  • Create New...

Important Information

{terms] and Guidelines