Lower Your Monthly Payments with a VA Home Loan Refinance

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The VA Home Loan program provides qualified homeowners with a simple way to take advantage of lower rates and reduce their monthly mortgage payment. In addition military homeowners can receive cash back from a VA refinance transaction and use the proceeds for a variety of needs, from paying off debt to making home improvements and much more. The current economic climate makes now an excellent time for military homeowners to take advantage of the numerous benefits found in a VA refinance.

Two loan programs help VA borrowers refinance. The programs are the VA streamline refinance, also known as the Interest Rate Reduction Refinance Loan or (IRRRL), and the VA cash out refinance.

VA Streamline (IRRRL) Refinance

Often called a "streamline" the Interest Rate Reduction Refinance Loan (IRRRL) is great for existing VA Loan holders looking to realize savings and take advantage of lower rates.

Cash Out Refinance

An option for existing VA Loan holders to take advantage of their home's equity to access cash for home improvements, to pay off revolving debt and/or any other purpose.

VA Streamline (IRRRL) Refinancing

VA Streamline (IRRRL) RefinancingThe streamline refinance or Interest Rate Reduction Refinance Loan (IRRRL) is one of the best options for homeowners who already have a VA Loan and would like to refinance into a lower monthly mortgage rate.

This refinance type is relatively easy and can be completed quickly due to the fact homeowners are refinancing from one VA Loan product to another. This type of refinance offers several prominent advantages.

Today's interest rates are at competitive levels and with a reduction of just a half of a percent a borrower could potentially generate tens of thousands in savings over the life of a loan.

All loans require approval and proof of eligibility and are subject to the terms and conditions outlined in the loan documents.

Quick Facts

• The Streamline refinance is a simple process compared to originating the first VA mortgage
• Closing costs and fees can be rolled into the cost of the new loan, meaning no out-of-pocket expenses
• The IRRRL, or Streamline program, allows you to refinance into a fixed rate or adjustable rate loan
• You must be current on your mortgage with no more than one 30 day late payment within the past year

 Getting started on a Streamline refinance is easy and the process can be completed in a surprisingly short amount of time.

• NO re-appraisal needed in most instances
• NO new Certificate of Eligibility required
• NO requirement for out-of-pocket costs

Cash Out Refinance

The VA cash out refinance gives qualified veterans the opportunity to turn the equity in the home to cash. Qualified homeowners can refinance up to 100% percent of their home's value.

Quick Facts

• For those refinancing from a conventional or other mortgage program you are not required to take cash out
• Cash out refinance loans follow the standard VA Loan underwriting and credit process
• Closing costs and funding fee can be rolled into the entire loan amount
• You must certify that you intend to occupy the property being refinanced

A cash out refinance provides access to cash from the equity you've built up in your home — and you are free to use this money for whatever you choose: 

• Major Home Repairs
• Emergency Expenses
• Upgrade Your Kitchen
• Remodel the Bathroom
• Tuition & Books
• Pay Off Debt
  
  And more...

​​Call me today, 303-668-3350. I look forward to providing you with superior levels of customer service and satisfaction.

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VA Approved Lender; Not endorsed or sponsored by the Department of Veterans Affairs or any government agency
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