Thursday, September 25, 2014

VA Interest Rate Reduction Refinance Loan (IRRRL)

VA Interest Rate Reduction Refinance (IRRRL) offers existing VA Mortgage holders a great opportunity to take advantage of the low interest rate market and reduce their rate and payment with a very simple process. Complete the Quick Quote to confirm eligibility.

VA Interest Rate Reduction Refinance Benefits include:
  • Lowering your interest rate
  • Reducing the amount of interest paid
  • Securing a fixed rate mortgage
  • No appraisal with most lenders
  • Increase cash flow
  • Pay off debt faster with a lower mortgage payment
  • Increase investments with lower mortgage payment

VA Interest Rate Rate Reduction Refinance eligibility information
  • The loan must be a VA to VA Refinance
  • Must certify that you previously occupied the property
  • A Va IRRRL Loan can only be made to refinance a property on which you have already used your VA Loan eligibility
  • The new mortgage payment must be lower than the the existing mortgage payment. The only time this will not apply is if you are refinancing from an adjustable to fixed rate loan. 
  • Must be current on mortgage
 Click the Quick Quote to confirm Eligibility and Loan Options

VA Loan Links and Helpful Information

VA Guidelines: http://www.benefits.va.gov/warms/pam26_7.asp
VA IRRRL Loan Refinance Information: http://www.benefits.va.gov/homeloans/irrrl.asp
VA Loan Limits: http://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp