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.
Highly recommend. The team is very friendly and knowledgeable. They make the process very easy and are there to help every step of the way. Our situation had some obstacles but Eric and his team were able to help us through those. They helped us make our dreams come true. My wife, our two boys and I could not be happier!
Shelby was a joy to work with. He knows his stuff and is always prompt returning our calls and answering any questions we had. I will be referring him to any of my family and friends needing a mortgage broker.
Thank you so very much for all of your help in securing our loan for our new home. You were organized & thorough & professional, as well as kind which made all of the difference in our interactions with you. We put our trust in you and you most definitely came through for us. Thank you for your patience as well as treating us as people rather than just home loan customers. You stand above the rest, Shelly!!
Simply put...AMAZING! From the first moment, each member of this team greets you until after you close you know they have your back and will work with YOU in mind. They'll do everything they can and need to in order to get you through the process painlessly and efficiently. I have dealt with a couple of other lenders before and neither were as compassionate and welcoming as this team. I will definitely work with them again for any future purchases!
Shelly Nickles was a pleasure to work with during our recent new home purchase. Shelly and her staff communicated effectively throughout the process to keep us informed of the loan approval process.
This team was amazing! Not only did they get us the rate that we wanted, but closed us in 20 days!! Thank you so much!!
My preferred lender to send my customers and clients to. They always go above and beyond and do what it takes to get it closed, often times ahead of schedule too!! Excellent follow up and they treat my customers like a person and not a number. Highly recommend!!
Great service! Great team! Great communication! I am a first time buyer and I had no idea what I was getting myself into and this team made this process taste like cake!
Shannon is such a joy to work with and makes this process easy and enjoyable for all parties!
You were beyond the best choice for being our Preferred Lender. You support us beyond belief, you help our new agents with what to say and do. You're honestly the best, and working with you and your team makes our team just that much better. People are able to see that when we promise them a date, a condition, anything... that we are able to deliver as a dynamic force. The clientele we've even built this far has been nothing short of elated to work and close with us. You're the best lender in New Orleans, and I'd shout it from the rooftops! Thank you! You and your team mean so much more to us than you'll ever know!