Question:

What are the benefits of the VA streamline refinance loans?

Answer:

VA streamline refinance loans allow to refinance your current VA loan with no out-of-pocket expenses.

Benefits of VA Streamline Refinance Loans

VA Interest Rate Reduction Loan also called VA IRRL is a streamline refinance loan with no refinance expenses other than 0.5% funding fee. It doesn't incur any other costs, mortgage insurance is not required, house appraisal, credit and income qualifications are not required either.

After filling an online request for a VA streamline refinance, you will be contacted by a VA specialist within two business hours.

Beside VA streamline refinance mortgages, VA also offers up to 90% cash-out refinance, debt consolidation refinance, as well as VA refinance from a non-VA loan.

If you are eligible for a VA loan, refinancing a non-VA loan into a VA loan has the benefit of offering bad credit borrowers the same low rates as borrowers with good credit standing.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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