In an effort to help veterans secure the lowest interest rate available, the VA started the Interest Rate Reduction Refinancing Loan (IRRRL) which is often called Streamline Refinance. At GovernmentLoanPro.com we can provide the information and tools you need to take advantage of your benefits as a veteran.

VA streamline refinance allows veterans who currently have a VA home loan to refinance to a lower interest rate without an appraisal or income verification. There is also no credit score requirement for this program. The new loan can be done in about 3-4 weeks, and it is a simple process that requires little effort from the veteran.

VA streamline loans are a great way for veterans to take advantage of historically low interest rates. These mortgage loans let you refinance your mortgage without any out-of-pocket expenses, and we can help you find the VA streamline refinance program that is right for your situation. There are two ways a lender can help you refinance: one is that you take a slightly higher interest rate and the lender will pick up the costs. The other option is to get the lowest possible VA streamline rates and then just roll in the leftover fees and pay them together.

Streamline Options

There are a few options available for veterans that are taking advantage of a VA streamline. The first is a choice between a fixed rate or VA Hybrid. These options both have their benefits, so the most important thing to consider is the time frame you realistically expect to keep the loan or home. If it is possible that you will refinance again for some other needs down the road, this could impact your choice.
The second option to determine is term of the loan. This could be a 15, 20, 25, or 30yr loan. Each of these have their own benefits, and it will greatly depend on your financial situation. Contact one of our approved VA lenders today for a consultation on your options so you can make the best decision for your current circumstances.