VA Streamline Refinance Loan

30yr Fixed VA Rates as Low as 4.00%* on 02/20/18

A VA Streamline Refinance aka Interest Rate Reduction Refinance Loan (IRRRL) is usually the best option for Veterans who currently have a Veteran Loan to take advantage of record low VA interest rates and lower their mortgage payments with no out of pocket costs and reduced documentation requirements.

Veterans with a current VA Mortgage DO NOT have to use their current mortgage company to utilize the VA Streamline Refinance program.  They can use any VA approved lender that offers the Streamline Refinance program.  By comparing lenders and rates Veterans can maximize the payment savings available to them through the VA IRRRL mortgage loan.

Veterans who would like to utilize the VA Streamline refinance should fill out the short form to the right and up to three Specialists with approved lenders will provide rate quotes and assist them with any related questions.

Benefits of a Streamline Refinance

Many of the typical requirements of a regular mortgage refinance aren’t necessary with an IRRRL mortgage.  VA Streamline Refinances can convert ARMs into fixed rate mortgages even if the interest rates are the same or higher.

  • No appraisal is required*
  • No borrower bank statements required*
  • No borrower paystubs or W-2 statements  required*
  • Closing costs included in the loan amount
  • Lower funding fee than regular VA home purchase or refinance loan

*Most VA lenders follow the guidelines above, however, at their discretion they may ask for some documentation related to the items listed.

IRRRL Eligibility Requirements

  • Currently have a Veteran Affairs backed mortgage
  • Payment history of 12 months without late payments
  • Provide proof of occupying the property as principal residence
  • New rate, payments and amount cannot be greater than the current loan*

*Closing costs can be combined with loan to avoid out-of-pocket expenses , and exceptions are made if refinancing from an ARM loan or to a shorter term.