• VA Interest Rate Reduction Refinance Loan (IRRRL)
  • VA IRRRL Refinance (VA Streamline)

    VA IRRRL refinance (Interest Rate Reduction Refinancing Loan) also known as a VA Streamline is refinancing an existing VA-guaranteed loan, for veterans and military families, with limited borrower credit documentation and underwriting. No appraisal is required for a VA IRRRL and a certificate of eligibility is not required. Depending on the lender, guidelines and requirements can vary – Nationwide Mortgage & Realty, LLC does not have overlays.

  • Benefits of a VA IRRRL Refinance (VA Streamline)

    • Possibility to bring no money to closing.
    • Refund of current escrow account.
    • Defer up to two mortgage payments.
    • In the case of an escrow shortage, a new escrow account will be set up with the appropriate amount for taxes and insurance.
    • Generally lower interest rates than conventional loans, which means savings in the long run.
  • Closing Costs:

    Closing costs for vary by lender. Closing costs can be financed with a VA IRRRL. Call today to talk with a loan specialist about loan costs.

  • Documentation:

    • No Paystubs, W2s or Tax Returns
    • No Appraisal
    • No Bank Statements are Required
  • Bankruptcy

    • Chapter 7 bankruptcy must be discharged.
    • Chapter 13 bankruptcy is permitted as long as there is a satisfactory trustee payment history and court approval.