VA Refinance (IRRRL)
VA Loans play an important role in putting our brave military-serving citizens and their families into a home of their own.
Although the VA has no minimum credit score requirement, most wholesalers require scores of at least 620. A few lenders will approve loans with credit scores as low as 580 in some cases. The VA takes a real-life view of affordability by estimating the ability to pay the home loan after accounting for other monthly expenses.
The primary benefits of a VA Refinance (IRRRL) are...
- Zero Down Payment. VA Loans are one of the only 0% down home loans for qualified borrowers available on the market
- No PMI. VA Loans are government backed, so wholesalers do not require you to buy Private Mortgage Insurance
- VA guaranty gives us lenders a greater degree of safety and flexibility. Typically giving you lower & more competitive rates
How do I qualify?
Some other eligibility requirements include...
- The home must be your primary residence.
- You must have a valid certificate of eligibility from the VA.
We’re transforming the way people think about financing their home. We’re also building a team that proactively tackles the challenges that come with getting a mortgage. Learn more about why we do what we do.
Is a VA Refinance (IRRRL) right for you?
Speaking with one of our experience loan help officers can help you further decide the best option, weighting the benefits and drawbacks of loan types so that you can make the best decision for your situation.