VA Streamline Refinance

What is a VA Streamline Refinance?

A VA Streamline Refinance Loan, sometimes referred to as an IRRRL, is the VA’s version of refinancing your mortgage – only better than a conventional refinance.

With this loan, you refinance your current VA mortgage to a new mortgage with a lower fixed interest rate. This allows you to lower your current mortgage rate or replace an adjustable mortgage rate with a fixed rate mortgage.

In addition, this type of refinance has many benefits over a conventional, non-VA refinance. Those benefits include:

• No appraisal needed
• Very little or no out-of-pocket expense
• Regular underwriting process does not apply so you do not need to turn in W-2s, paychecks, etc.
• You may be able to skip up to two payments*

* Interest Applies