My New Blog

We've had so many requests for the VA IRRRL Streamline Loan I thought this would be a great time to give some details of how the loan works and why someone would want use the program.

The VA IRRRL (Interest Rate Reduction Refinance Loan) is one of the last common sense loans left today. You must have a current VA Loan to be eligible and if you do VA takes a very simple approach. VA is currently the guarantee on your home loan and bears the risk if you default. So the logic is if you can lower your payment then you're probably more likely to keep making the payments (I know, you would think all the banks would think this way).

So VA makes the process very simple, if you've made your last 12 months payments on time you qualify. No income verifications, No Appraisal, No Asset verification, No Credit Check. You can even refinance a home you're using as an investment property.

If you have a VA Home Loan now you should check to see what interest rate is available today!