As we approach the end of first quarter in 2021, New Mexico homeowners with a VA loan have seen the very low interest rates available for VA Streamline loans, also known as Interest Rate Reduction Refinance Loans (IRRRLs). Streamline loans are a great opportunity for Veterans to refinance their existing mortgage into today’s lower interest
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A new independent national survey was recently conducted, looking not only at VA interest rates but also comparing closing costs. The survey looked at the top 10 VA lenders nationally and compared them to smaller VA lenders. The results showed that the big national VA lenders, the big names you recognize, are clearly taking advantage
A VA Streamline IRRL loan, also known as a VA IRRL (for “interest rate reduction loan”) is a loan designed for a veteran to refinance his or her current VA loan into a loan to get a lower interest rate and lower monthly payment. The IRRL refinance must be a VA to VA refinance. It’s
Veterans with an existing mortgage have seen that interest rates are at record lows for Streamline loans or what we call IRRLs, Interest Rate Reduction Loans. This, of course, is a great opportunity for Veterans to streamline a refinance to get into those low rates and save them hundreds of dollars in monthly mortgage payments.
In 2020, the Veterans Administration has recently done away with down payments for VA Jumbo loans. In the past, for Jumbo loans, those up to $510,400 in most US counties, the veteran would make a down payment that was a certain percentage amount based on their guarantee available from the VA. This is no longer