VA STREAMLINE REFINANCE - IRRRL
(Interest Rate Reduction Refinance Loan)
Then the VA Interest Rate Reduction Refinance Loan (IRRRL loan), or more commonly known as the VA Streamline Refinance loan, can be used to refinance your current VA loan to a lower interest rate, or to maybe refinance your adjustable rate mortgage to a new fixed rate loan with minimal paperwork, and usually without needing an appraisal.
How cool is that?
In most cases, an VA streamline refinance must result in a lower interest rate — that’s a fundamental rule (and benefit) of these types of VA loans.
The Benefits of a VA Streamline Refinance Loan
- The IRRRL is probably one of the easiest refinancing processes you will find anywhere.
- Lower your monthly mortgage payments
-
Very low to no closing
costs out of pocket
- In many cases, there is no appraisal which can be very helpful if you believe you may be underwater on your loan, or if your home has lost value since your bought it.
-
No mortgage insurance on
the refinance loan - just like on your existing VA Loan
Call or
click to get started.
(651) 552-3681
The Department of Veteran Affairs requires those who offer VA Loans go through a stringent approval process. We are a VA approved mortgage lender and are proud to help military families use their VA Loan Benefits. We are not acting on behalf of, or under the direction of the VA or the Federal Government. The Veterans Administration does not lend directly to the public, only through approved lending institutions like Cambria Mortgage.