A VA IRRRL (Interest Rate Reduction Refinance Loan) provides a streamlined process for refinancing a VA loan to take advantage of lower interest rates or to reduce the repayment period. The VA IRRRL is designed to reduce the interest rate of an existing VA loan or convert an existing VA adjustable rate mortgage loan into a fixed rate mortgage loan.
A VA IRRRL has several benefits, which include, but are not limited to:
Property appraisal may not be required
New Certificate of Eligibility (COE) is not required
Funding fee is .5% (0% for disabled veterans)
A VA IRRRL cannot be used to refinance a non-VA mortgage. It must be a VA-to-VA refinance, and the IRRRL will reuse the entitlement you originally used.
Everyone we came in contact with was great. They answered all questions and concerns that we had. We would recommend to anyone buying or selling.
P Schonburg
2024-04-21
Fast and efficient throughout the process.
J Maguino Zegarra
2024-04-18
Everyone was wonderful. made our experience so easy
K Schonburg
2024-04-18
Paul and his team made the whole process as straight forward and stress free as possible. Would recommend Paul and his team to any first time home buyers.
B Allgeier
2024-04-16
I felt very cared-for during the entire loan process. All of the electronic tools were convenient, and the entire team was extremely responsive to all of my questions and making sure I had everything in place. Thanks!
K Mallory
2024-04-08
Pleasant transaction overall.
Z Aubrey
2024-04-03
Excellent service, knowledgeable team and seamless process. These guys are great!
J Cerasari Jr
2024-04-02
Very easy to work with and fast. Answered any questions and made the process very clear and easy for me being a first time home buyer