fbpx
  • Tel: (651) 552-3681
    Email: Loans@VAMortgageMN.com

  • VA Streamline Refinance

  • VA STREAMLINE REFINANCE, also known as a VA IRRRL(Interest Rate Reduction Refinance Loan).

    Do you have an existing VA home loan on a property in Minnesota, Wisconsin, or South Dakota?

    Then the VA Interest Rate Reduction Refinance Loan (IRRRL loan), or more commonly known as the VA Streamline Refinance loan, can be used to refinance your current VA loan to a lower interest rate, or to maybe refinance your adjustable rate mortgage to a new fixed rate loan with minimal paperwork, and usually without needing an appraisal.

    How cool is that?
     
    In most cases, an VA streamline loan must result in a lower interest rate — that’s a fundamental rule (and benefit) of these types of VA loans.

    The Benefits of a VA Streamline Refinance Loan

    The VA IRRRL loan is probably one of the easiest refinancing processes you will find anywhere.

    • Lower your monthly mortgage payments
    • Very low to no closing costs out of pocket 
    • In many cases, there is no appraisal which can be very helpful if you believe you may be underwater on your loan, or if your home has lost value since your bought it.
    • No mortgage insurance on the refinance loan - just like on your existing VA Loan