Refinance Your VA Home Loan With An IRRRL.

If you currently have a VA loan, now may be a great time to utilize the VA refinance program to get lower house payments with lower interest rates. Thanks to IRRRL (Interest Rate Reduction Refinancing Loan) program, veterans can have an easier time with financing their homes.

When you want to refinance your VA home loan you can take advantage of IRRRL program. IRRRL is an interest rate reduction refinancing loan that is available to veterans when they need a low or adjustable interest rate loan.

VA refinance loans can often be done with fewer requirements than traditional loans. In some cases, there will be no need to meet the minimum credit score or appraisals. The guidelines for VA refinance loans are geared towards veterans who are current on their mortgage payments and allows for a more streamlined approach to getting the Veteran a new loan with a lower interest rate which could save tens of thousands of dollars over the life of owning the home.

Although when you purchased the home and had to state your intent to occupy the property, on the IRRRL, you only need to state that you have previously occupied the property which is great if you’ve already been transferred to a new base or have moved away from the property that has the VA loan.

Alterra Home Loans is a VA approved lender and can handle your VA refinance which can saves you time and money.