Veterans Affairs Loans (VA)
VA Streamline
Are you current on your VA home loan?
Are you paying a higher interest rate on your existing loan than is offered today?
VA loans are popular among those who qualify, since there is no requirement for monthly private mortgage insurance, or a down payment. If your payments are up to date on your current VA loan, with no more than one 30-day late payment in the previous 12 months, you can qualify for a VA streamline refinance, known as the Interest Rate Reduction Refinance Loan (IRRRL.)
Once you have been approved for a VA loan, VA streamline refinancing is simple. You can quickly and effectively lower your interest rate to today’s competitive rate. In addition, closing costs can be rolled into your loan amount.