VA IRRRL Mortgage Loan! Serving those that Serve! Alameda, Oakland, Berkeley, and all of California!
Know any Vets who purchased a home? Now is an incredible timfe for them, to refinance into a VA IRRRL. Pricing is ridiculously low and the process is very straight forward.
“IRRRL stands for Interest Rate Reduction Refinancing Loan. You may see it referred to as a “Streamline” or a “VA to VA.” Except when refinancing an existing VA guaranteed adjustable rate mortgage (ARM) to a fixed rate, it must result in a lower interest rate. When refinancing from an existing VA ARM loan to a fixed rate, the interest rate may increase.
No appraisal or credit underwriting package is required by VA. You should be aware, however, that lenders may require an appraisal and credit report anyway.
A certificate of eligibility is not required.
An IRRRL may be done with “no money out of pocket” by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs. (Remember: The interest rate on the new loan must be lower than the rate on the old loan unless you refinance an ARM to a fixed rate mortgage).” www.homeloans.va.gov
There is a great opportunity in the market to refinance a VA loan you or someone you know may have! Email call or comment – 510.282.5456 – info@garrick.biz
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The Buzzz Blog | The Buzzz | June 1, 2010
Your blog is so informative ¡ keep up the good work!!!!
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