Indiana VA Streamline Refinance: Indiana IRRRL Program

Indiana VA Streamline Refinance

The Indiana VA streamline refinance is designed for veterans who are currently in a VA loan to get the lowest fixed interest rates available in the easiest possible way. The VA streamline also has “another” name it goes by – the VA IRRRL refinance program. It is designed to be done with as little documentation as needed and there is no appraisal required so that veterans can save as much money as possible with minimal hassle.

Indiana VA Streamline Refinance Program Highlights Include:

• The VA does not require an appraisal (note: some lenders may require an appraisal)
• No asset, income or employment verification
• Veteran is not allowed to get cash at closing with the VA streamline
• All costs can be rolled into the loan
• Must be current, but 1 30 day late payment is allowed within 12 months

VA Streamline Refinance Information from VA.gov

“Veterans are strongly urged to contact several lenders. There may be big differences in the terms offered by the various lenders you contact. Some lenders may contact you suggesting that they are the only lender with authority to make IRRRLs. Remember – Any lender may make you an IRRRL.

Some lenders may say that VA requires certain closing costs to be charged and included in the loan. Remember – The only cost required by VA is a funding fee of one-half of one percent of the loan amount which may be paid in cash or included in the loan.

The occupancy requirement for an IRRRL is different from other VA loans. When you originally got your VA loan, you certified that you occupied or intended to occupy the home. For an IRRRL you need only certify that you previously occupied it.”

For Veterans who currently have a VA loan, it is easy and free to find out if the VA IRRRL refinance can help you save money each month on your mortgage. Contact your Indiana VA streamline experts now — 888.448.2669.