VA IRRRL Home Loans
Interest Rate Reduction Refinance Loan
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VA IRRRL Home Loans
A VA IRRRL (Interest Rate Reduction Refinance Loan) is a streamlined refinance option offered by the U.S. Department of Veterans Affairs (VA) exclusively for veterans, active-duty service members, or eligible surviving spouses who already have a VA-backed home loan.
Key Features / Purpose:
-Lower your interest rate and/or monthly payment (or switch from an adjustable-rate to a fixed-rate mortgage).
-No appraisal required in most cases.No income verification or credit underwriting (though lenders may check credit).
-No out-of-pocket costs – the 0.5% VA funding fee and closing costs can be rolled into the new loan.
-Occupancy not re-verified – you don’t need to prove you still live in the home (as long as it was your primary residence when the original loan closed).
-Faster process – often closes in 30–45 days.
Eligibility:
-Must have an existing VA loan.
-The new loan must provide a net tangible benefit (e.g., lower rate/payment or more stable terms).
-You must be current on your mortgage (no 30-day late payments in the past 6–12 months, depending on lender).
-At least 210 days must have passed since your first VA loan payment, and the refinance must occur after 6 payments have been made.
I specialize in VA Loans. If you have any questions, please do not hesitate to reach out to me. I am happy to answer all of your questions.
I appreciate the opportunity to serve you and your family!
Thank you for your service!
VA Loan Characteristics
VA loans are available to eligible veterans, active-duty military members, and eligible surviving spouses.
These loans are guaranteed by the Department of Veterans Affairs, which means lenders are protected in case the borrower defaults on the loan
VA loans do not require a down payment, which can make it easier for borrowers to purchase a home
VA loans typically offer more favorable terms and interest rates compared to conventional loans
VA loans do not require mortgage insurance, which can save borrowers money on their monthly payments
VA loans have flexible credit requirements, which can help borrowers with less-than-perfect credit still qualify for a mortgage
VA loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
Location
: 24661 E Park Crescent Dr, Aurora, CO 80016, United States
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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov.
A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov