When interest rates are low, many Veterans who have VA loans in Arizona are interested in possibly doing a VA IRRRL streamline refinance. But when is the VA IRRRL allowed? The VA IRRRL Streamline Refinance program allows a Veteran to refinance their existing VA loan to a new VA loan to a lower interest rate with a reduced amount of documentation. VA Streamline IRRRLs are allowed under the … [Read more...]
VA Streamline: Appraisal May Now Be Needed
Another day, another change that some investors are now requiring -- this one for people who are currently in a VA loan and want to do a VA streamline refinance. For as long as I can remember, the VA streamline refinance (aka the VA IRRRL program) did not require an appraisal for the borrower to participate in the VA streamline program and get a lower interest rate. But that may be changing. … [Read more...]
VA Streamline Refinance Program: AKA The VA IRRRL Program
VA Streamline Refinance Program (aka The VA IRRRL Program) The VA Streamline Refinance is designed to help veterans secure the lowest fixed interest rate available and is also known as the VA Interest Rate Reduction Loan program (IRRRL). This loan option is a way for current VA homeowners to lower their interest rate with very little or no out-of-pocket costs. The VA IRRRL Streamline is … [Read more...]
The VA IRRL Streamline Refinance Program: No Appraisal Required
When interest rates dip, refinancing activity goes up -- and recently we have had a few calls from Veterans who are currently in a VA loan asking about their refinancing options. If you are currently in a VA loan and you are interested in just lowering your monthly payment, the VA IRRL streamline makes it easier than ever to take advantage of lower interest rates and lower your payment. The … [Read more...]