Learn about the VA IRRRL (Interest Rate Reduction Refinance Loan), a streamlined refinance option for veterans to lower their mortgage payments and interest rates.
A VA loan is a great option for military families who want to buy a home, and you don't need a down payment. Learn how a VA loan works and whether you're eligible.
VA loans ; What is a VA loan? · Who is eligible for a VA loan? · How do you apply for a VA loan? · Why choose a VA loan? · Bottom line
For VA loan borrowers, the VA streamline refinance — officially, a interest rate reduction refinance loan (IRRRL) — can save time and money.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews. Lenders like to advertise quick and easy refinances, but they don't always end up that way when you factor in all the new paperwork you'll have to deal with and the money you'll have to spend. But in certain cases, refinancing can actually be relatively easy. ...
More than a home loan. A lot more. No appraisal, PMI, or closing costs1 ; No income or asset verification required ; Rates as low as 6.0% (6.175% APR)2
If you already have a VA loan, a VA streamline refinance might be the easiest way to lower your interest rate--and save money and time.
A VA loan is a mortgage loan available through the U.S. Department of Veterans Affairs for service members, veterans, and their surviving spouses.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews. When you buy a house, you have many loan options to choose from. The most common is a conventional loan, but FHA loans are popular, too. If you or your spouse has served in the U.S. military, you may be eligible for another type of mortgage: the VA loan. These loans have unique benefits and can ...
The IRRRL program makes the refinancing process faster than other refinance types because it typically requires less documentation and paperwork. For instance, the VA doesn’t require an appraisal, credit check or employment verification for a Streamline refinance (although your lender might require them). Instead, the primary qualification borrowers must show is that they’re current on their mortgage payments. In addition, a title search and title insurance are necessary. The borrower can also roll any incurred closing costs into the new lo ...