Mortgage Sense

What is a VA IRRRL loan?

     
What is a VA IRRRL loan?

Are you a current or former US military member who took advantage of the benefits of a Veterans Affairs mortgage — aka VA loan — to purchase your home? If so, you can use a VA-backed Interest Rate Reduction Refinance Loan (IRRRL) to refinance quickly and easily and with very little documentation to pull together. 

The VA IRRRL (we agree, it’s a cumbersome acronym, which is why it’s sometimes pronounced “earl”) can lower your monthly payment, reduce your interest rate, change your terms or move you from an adjustable to a fixed-rate loan. 

Continue reading What is a VA IRRRL loan? at Movement Mortgage Blog.

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