Wednesday, June 22, 2011

VA Home Loan Benefit - The IRRRL (Interest Rate Reduction Refinance Loan)

VA Home Loan Benefit - The IRRRL (Interest Rate Reduction Refinance Loan)

Many veterans do not understand one of the best benefits of their VA home loan. It is designed to allow you to lower your interest rate and monthly payments. It is called an IRRRL: Interest Rate Reduction Refinance Loan.

An IRRRL is a streamline refinance process which allows you to refinance without an appraisal to take advantage of a lower interest rate! There is minimal documentation needed and a long as your payments have been made on time you should be able to qualify.

These loans can be closed quickly and provide relief when it is needed in a down market.

If you want to lower your payments or interest rate on your VA loan, or to apply for a VA loan, call the Best Loan Officer in the Rogue Valley to discuss your options:

David DuBeau

Once you are prequalified for a VA home loan:

Call The Best Realtor In The Rogue Valley,
Cheryl Malone at Windermere Investors Marketplace and "Lets Go Shopping"! 

How Do I Use My VA Home Loan?
What is a "Preapproval Letter"?
Should I Buy A Home Right Now?
Is it cheaper to rent, or buy?

What is the difference between a Foreclosure, REO, and Short Sale?

1 comment:

  1. The first benefit of mortgage loans is that there are many types of mortgage loans and are available and used worldwide. The flexibility of interest rates also adds to the benefits of mortgage loans. Here, the interest rates may be fixed for the life of the loan or can be changed at certain predefined periods. The amount paid per period and the frequency of payments; in some cases, the amount paid per period may change or the borrower may have the option to increase or decrease the amount paid.

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