VA STREAMLINE REFINANCE - IRRRL
(Interest Rate Reduction Refinance Loan)
Then the VA Interest Rate Reduction Refinance Loan (IRRRL loan), or more commonly known as the VA Streamline Refinance loan, can be used to refinance your current VA loan to a lower interest rate, or to maybe refinance your adjustable rate mortgage to a new fixed rate loan with minimal paperwork, and usually without needing an appraisal.
How cool is that?
In most cases, an VA streamline refinance must result in a lower interest rate — that’s a fundamental rule (and benefit) of these types of VA loans.
The Benefits of a VA Streamline Refinance Loan
- The IRRRL is probably one of the easiest refinancing processes you will find anywhere.
- Lower your monthly mortgage payments
Very low to no closing
costs out of pocket
- In many cases, there is no appraisal which can be very helpful if you believe you may be underwater on your loan, or if your home has lost value since your bought it.
No mortgage insurance on
the refinance loan - just like on your existing VA Loan
Call or click to get started.