VA Streamline Refinance
VA Home Loan Rates Continue Near All-time Lows
For prior or current service military personnel, the smartest mortgage option is the VA Loan or VA streamline refinance. Also known as Interest Rate Reduction Loan (IRRL), it’s a low-cost and low-interest rate loan that is designed specifically to benefit veterans and spouses of deceased military personnel. The savings from this program can be extremely high.
VA Home Loans
VA home loans allow veterans to get a mortgage of up to $417,000. The VA home loan not only has a reduced interest rate, it also allows the seller to pay for 100% of closing costs. The Veteran Affairs administration, or VA, offers a guarantee on these loans, which is why you’re able to get the added benefits.
Saving Money with a VA Streamline Refinance
If you currently have a VA loan and need to refinance, there is a special streamline process that allows you to refinance with no home appraisal, no job verification, and no income documentation. You will also be allowed to forego two consecutive payments on your loan and refund any excess escrow within 30 days. If you’re in a cash crunch or just want a better rate, this is a great way to go.
Benefits of a Streamline Refinance
- Refinance with no out-of-pocket closing costs.
- No appraisal needed.
- No credit checks needed.
- No employment verification
- No income verification
In order to participate in this program you must have a certificate of eligibility from the VA, your mortgage must be current, and you can have no more than one (1) 30-day late payment in the last 12 months.
Get Your Quote Today!
VA loans are the perfect choice for any current or former military personnel. Let us help you get the benefits of a VA loan by filling out our fast and secure 1-minute quote request form.