As a veteran of our Armed Forces, you are eligible to participate in possibly the greatest refinance available – the VA Streamline Refinance. There is simply no comparison to it anywhere in the mortgage industry. No other program is as simple to enroll in or as easy to qualify for than the VA Streamline Refinance.
In an effort to help veterans secure the lowest fixed interest rate available, the VA started an Interest Rate Reduction Loan program called the Streamline Refinance (IRRRL). This loan option is a way for current VA homeowners to lower their interest rate with very little or no out-of-pocket costs. These refinance loans are done with very little effort and can help veterans start saving immediately.
An Interest Rate Reduction Loan, or VA Streamline Refinance, allows you to refinance your current mortgage to a lower interest rate. This is only available to veterans who used their VA eligibility when initially purchasing their house. "No Cost" Streamline loans let you refinance your mortgage with no out-of-pocket expenses. There are two different ways a lender can help you with a VA refinance. One is that you take a slightly higher interest rate and the lender picks up all costs. The other option is to get the lowest possible interest rate available and just roll in the leftover fees involved. The streamline refinance is good for a lot of reasons, but especially because there are no credit score qualifications and no income minimums. As long as you have not had more than one 30-day late payment in the past 12 months you can still qualify for this program. Even if your credit is badly damaged.
Record Rates for Veterans
We’ve all heard about the recession and the toll that is having on Americans everywhere. The Fed has taken action to keep interest rates low, and this is especially true for veterans. In fact, rates have been at record lows recently due to the Fed’s actions. That’s one reason why so many Veterans are taking advantage of this fast-tracked system. The costs are extremely low and your monthly payment will likely decrease substantially. YouCanRefi clients benefit from an additional Mortgage Management Program called the ArcLoan®. This program helps Vets to take advantage of interest rate cycles and allows them to increase their savings and reduce their debt. It’s time to take advantage of these amazing rates while they last. The VA refinancing program could reduce your monthly payment and allow you to skip the next two payments if you refinance now. Get you Free quote to find out how we can help you today by filling out our no-cost and no-obligation quote request form.
VA Streamline Refinance - "IRRRL"
Features of Streamline VA Refinance Loan
• No Income Check
• Skip up to 2 mortgage payments
• Refund existing escrow account
• No out-of-pocket expenses
• No appraisal required
• Fast, in-home closings
• Include up to $6,000 in energy efficiency costs for your home