VA Interest Rate Reduction Refinance Loan Page

VA loans are a special loan program designed for veterans, issued by approved lenders and guaranteed by the federal government. VA Streamline Refinance, or Interest Rate Reduction Refinance Loan (IRRRL), is the most common refinance VA loan type. The IRRRL lowers your interest rate by refinancing your existing VA home loan. By obtaining a lower interest rate, your monthly mortgage payment should decrease.
Some of the key benefits of VA IRRRL loans include:

  • No money down
  • No private mortgage insurance (PMI)
  • Competitive interest rates
  • Ease of use
  • Considerable Savings
  • Limited out of pocket expenses if any

Almost all active duty and honorably discharged service members are eligible for a VA purchase or streamline refinance loan. In order to qualify for a VA Streamline, you must meet the following requirements:

  • Be current on your mortgage with no more than one 30-day late payment within the past year
  • Your new monthly payment for the IRRRL must also be lower than the previous loan’s monthly payment
  • You must not receive any cash from the IRRRL
  • You must certify that you previously occupied the property
  • You must have previously used your VA Loan eligibility on the property you intend to refinance

For more information about VA IRRRL loans contact Integrity Financial now!

Read More about how you can take advantage of your VA Home Loan Options.

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Integrity Financial Services of Tampa Bay Inc. DBA Integrity Financial Services (“Company”) is a Florida Licensed Mortgage Lender NMLS #327908. Integrity Financial Services is not affiliated with any government agency.