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Updated 6 months ago on .

User Stats

9
Posts
6
Votes
Leslie Hsiung
  • Honolulu, HI
6
Votes |
9
Posts

HELOC Sweep on a VA Loan

Leslie Hsiung
  • Honolulu, HI
Posted

Hello all. I have a VA Loan on my current primary residence and its so hard seeing so much of my payment go to interest after being spoiled by my HELOC sweeps on my last 2 mortgages. I am having trouble seeing the benefit of the VA loan in the long term even if I refinance as interest rates drop. What am I allowed to do with a VA Loan - is it even an option to sweep it if I can find a lender? If I am able to sweep the mortgage, should I consider it or am I losing some benefit from the VA backed loan....does this affect my VA loan eligibility in the future, etc. I just don't even know where to start and what I should be asking but am wondering. I have no experience with this situation so am hoping someone where has gone through something similar.