VA Streamline Mortgage Loans
The VA streamline refinance is the quickest, cheapest, and most beneficial type of refinance for veterans who currently have a VA home loan. VA refinance rates are at historic lows. If you are interested in reducing your interest rate and monthly payment, it’s worthwhile to check current VA streamline rates.
The VA streamline is one of the only refinance programs available in 2018 that allow you to qualify without income or bank account verification. It’s available to those with less than perfect credit. It is one of today’s quickest and easiest refinance options.
What is a VA Streamline Refinance Loan?
The VA streamline helps veterans lower their mortgage rate and payments. When rates are low like they are now, veterans can refinance into a new loan based on today’s rates, and often reduce their monthly payment quickly and easily.
This loan type, also called the Interest Rate Reduction Refinancing Loan (IRRRL) eliminates many of the roadblocks that hold up applicants on other types of refinances. The VA Streamline is much easier because:
- No paystubs or W2s are required
- No bank statements are required
- No home appraisal is required
- There is no loan-to-value limitation because no appraisal or value is required.
- Underwater homes are eligible
- The required funding fee is lower than for VA purchase loans
- Closing costs can be wrapped into the new loan, meaning little or no out-of-pocket expenses
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Address: 4901 McLeod Rd NE # C Albuquerque, NM 87109