What is a VA Streamline Refinance?

 A VA Streamline Refinance (also known as an IRRRL - Interest Rate Reduction Refinance Loan) is a very simplified refinance loan designed to lower the interest rate on a Veteran's existing VA mortgage.

The paperwork and processing time on VA IRRRLs are greatly reduced making the process very "streamlined".  

Features and Benefits of a VA Streamline Refinance:

~ No income, asset, or employment verification   

~ Minimum credit score of 580 

~ No appraisal required   

~ Full credit report not required   

~ Current mortgage must have no 30-day lates in last 6 months  

~ The refinance must provide a "net tangible benefit" meaning it must be in the financial interest of the veteran  

~ The property can be a primary residence, a 2nd home, or even a rental property if the Veteran resided in the home at one time 

If you would like to learn more about VA Streamline Refinance Loans, give us a call at 803-771-0080 or fill out the short form on this page and we will get back with you promptly.