Streamline (IRRRL) Refinancing
The VA Streamline Refinance Loan, also known as the Interest Rate Reduction Refinance Loan (IRRRL), is an excellent option for veterans looking to maximize their VA benefits. If you already have a VA loan, this program allows you to obtain a new loan with minimal documentation and a simplified process.
The VA has streamlined the underwriting process for IRRRLs, eliminating the need for income verification and an appraisal. Since you’re already a VA home loan holder, you qualify through your VA benefits and can close on the new loan with no out-of-pocket expenses. All associated costs can be rolled into the new loan, further reducing any financial burden.
Streamline loans offer the same requirements whether the property is owner-occupied or an investment, as long as the loan is guaranteed by the VA.
Benefits of a VA 30-Year Fixed Loan
The VA 30-Year Fixed Loan program, established by the Department of Veterans Affairs, is designed to support veterans, service members, and military families. This program offers some of the lowest 30-year fixed interest rates available, with the added benefit of 100% financing for eligible veterans.
Veterans who already have a VA home loan can take advantage of lower rates through an IRRRL, provided the refinance is beneficial to them.
VA Help Center’s licensed mortgage specialists are here to guide you through the process, ensuring that the program you choose meets VA guidelines and serves your best interests.
Additional Benefits of the VA Homeowner Program
- No pre-payment penalties.
- 100% financing available.
- No appraisal needed for streamline refinances.
- No income verification required for streamline refinances.
- A thorough benefits analysis to ensure the program is advantageous.
- Up to two months of deferred mortgage payments.
- Receive an escrow refund, which includes taxes and insurance paid up to date. We’ll rebuild your escrow balance by contacting your county and homeowner’s insurance on your behalf.
VA 15-Year Fixed Loan
The VA 15-Year Fixed Program is designed for veterans who want to pay off their homes faster while building equity more quickly. VA Help Center offers some of the lowest interest rates available for this 15-year program, making it an attractive option for those looking to reduce their loan term.
By choosing the 15-year VA guaranteed program, veterans can pay off their homes sooner, saving significantly on interest over the life of the loan. This program not only accelerates homeownership but also allows military homeowners to increase their equity at a much faster rate, providing long-term financial benefits.