VA IRRLA Refinance
What is a VA IRRLA refinance?
A VA IRRLA is an interest rate reduction loan for anyone with a current VA loan who is looking to refinance for a lower interest rate.
What are the benefits of a VA IRRLA refinance compared to a traditional VA refinance?
• There is no appraisal needed for a VA IRRLA no matter if your home value is below the current loan that you need to refinance.
• With a VA IRRLA loan, there is no income requirement at all.
What is the financial advantage of refinancing with a VA ARRLA loan verses a traditional refinance?
• Save money by not needing an appraisal
• No underwriting fee with this loan so lower closing costs
How long does the process for a VA IRRLA refinance take?
Since there is no income required for this loan and NO appraisal needed, most VA ARRLA can be closed in as little as 15 days!