VA | Interest rate reduction refinance loan (IRRRL)

Article Title: VA | Interest rate reduction refinance loan (IRRRL)

Article Excerpt: "...If you have an existing VA-backed home loan and you want to reduce your monthly mortgage payments—or make your payments more stable—an interest rate reduction refinance loan (IRRRL) may be right for you. Refinancing lets you replace your current loan with a new one under different terms. Find out if you’re eligible—and how to apply. ..."

Reference Source: www.va.gov

How a VA Interest Rate Reduction Refinance Loan (IRRRL) works

Article Title: How a VA Interest Rate Reduction Refinance Loan (IRRRL) works

Snippet of Article: "... A VA Interest Rate Reduction Refinance Loan (IRRRL) is a type of refinance for people who already have a mortgage backed by Veterans Affairs. You refinance from one VA mortgage into another. You'll refinance into a mortgage with different terms. You may snag a lower interest rate, change your term length, or switch from an adjustable-rate mortgage to a fixed-rate mortgage..."

Article Source: www.businessinsider.com

4 irresistible perks of a VA mortgage refinance

Article Title: 4 irresistible perks of a VA mortgage refinance

Snippet of Article: "... Homeowners who are entitled to this benefit can apply for a VA refinance with favorable terms. There are two main types: Interest Rate Reduction Refinance Loan (IRRRL), also called a “streamline” refinance VA-backed cash-out refinance loan ..."

Article Source: www.bankrate.com