The IRRRL program provides a very flexible way for veterans to lower their interest rate on a VA loan. With no credit requirements or need to verify your income, it is an easy way to refinance your VA loan. What if you want to reduce your mortgage term with an IRRRL? Is this possible? In many cases, it is possible. The VA only limits how much you can extend a loan term with this refinance program. … [Read more...]
What Does my New Interest Rate Have to be with a VA IRRRL?
The VA IRRRL program offers veterans a unique way to refinance their current VA loan. The program, called the Interest Rate Reduction Refinance Loan, helps veterans do exactly as the name suggests – lower their current interest rate. However, there are parameters regarding how low your interest rate must be in order to qualify for the streamlined VA loan. Understanding the qualifications you need … [Read more...]
VA Streamline Refinance Appraisals
Whether you’re looking to buy your first home or you’re refinancing a home loan you already have, one of the crucial steps in the loan process is a home appraisal. Getting an appraisal is required when obtaining a VA loan. It’s extremely important that your lender doesn’t approve a loan for an amount more than the value of the home or property. The appraisal process is usually a precaution in … [Read more...]
What is a VA Home Loan?
From the year of 1944, the government of United States developed a military loan guarantee plan to aid returning soldiers to buy residences. The outcome, the VA (Veterans Affairs) Loan, which is a mortgage home loan released by authorized loan providers like Veterans United Home Loans and assured by the government of United States. Since its beginning, the Veterans Affairs Loan plan has … [Read more...]
VA Streamline Common Q&A’s
If you’re not familiar with VA home loan products or refinancing options you may have a few questions. Below are a few of the most common questions borrowers have about VA Streamline Refinancing. If you have a question that’s not listed below click the link at the bottom of this page and a VA approved qualified lending specialist will be happy to answer any questions you may have.Q: Can I … [Read more...]
