Question:

With a VA streamline refinance do rates go down?

Answer:

The VA streamline refinance keeps rates down.

No matter if you are having good or bad credit, if you are a veteran holding a VA loan, make use of the VA streamline refinance to lower your mortgage monthly payment with up to $200. In fact, it is a requirement of the VA streamline refinance program that rates go down on the new VA loan. Also, you could skip 2 month's mortgage payment with the VA streamline refinance program.

Current VA loan rates are pretty low so it may be the right time for you to refinance. With the VA streamline refinance income and job verification are not required.

The VA IRRL (interest rate reduction loan) does not require that the VA mortgage is on an owner occupied property, but the owner needs to have had the VA mortgage for at least half a year to make use of the VA streamline refinance low rates.

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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