The IRRRL

Interest Rate Reduction Loan.

The Streamlined Refinance for Veterans

The VA IRRRL is a refinancing option exclusive to borrowers with an existing VA home loan. It allows you to refinance your current mortgage at a lower interest rate with minimal paperwork. No income and no home appraisal are required. The goal of the IRRRL is to make refinancing quick, easy, and affordable for veterans. This loan program is designed to help veterans and military personnel lower their interest rates, reduce monthly payments, and save thousands over the life of their loan.

Lower Interest Rates: Secure a reduced interest rate to lower your monthly mortgage payments.
No Appraisal Needed: A home appraisal is not required, saving you time and money.
Streamlined Process: The IRRRL is fast and hassle-free, with less paperwork than traditional refinancing. Sometimes closing in 15 days or less.
No Out-of-Pocket Costs: You can roll closing costs into the new loan, eliminating the need for upfront payments.
Improved Cash Flow: Lower monthly payments free up cash for other expenses or savings goals.

Key Benefits of a VA IRRRL

Eligibility Requirements for a VA IRRRL

To qualify for a VA Interest Rate Reduction Loan, you must meet the following criteria:

You must have an existing VA-backed home loan.
The new loan must result in a lower monthly payment (with some exceptions for shorter loan terms).
You must certify that you currently occupy or have previously occupied the home.
You cannot receive cash back at closing, except for refunds or minor adjustments.
No income or appraisal required

Why Choose a VA IRRRL?

The VA IRRRL is one of the most veteran-friendly refinancing options available. It’s designed to help you save money without the stress of a traditional refinance. Whether you’re looking to reduce your monthly expenses or pay off your loan faster, the IRRRL offers a flexible and affordable solution.

Testimonials

I don’t even know where to start, after working with a different company and not getting what we were looking for. My Mom told me to call Jerimiah, as they have used him before and have been very pleased. And let me tell you Jerimiah and Joseph didn’t disappoint. Jerimiah is amazing, he understood exactly where we were coming from. Especially with me getting out of the Marines and starting a new life. He was very responsive with all of my questions about the VA home buying process and had a response back to us within minutes of us asking. He always made sure we were comfortable and understood everything. He also was able to get us to close within 30 days of our accepted offer. Allowing me to stress less and start work sooner. Thanks again Jerimiah you truly are a miracle worker

Hunter Gough

I highly recommend Midwest Mortgage. I am a single mother of two adult disabled sons, one who is partially paralyzed and the other with kidney failure. My family not only wanted this home but definitely needed this home. The team at Midwest made it happen!! All the messages and calls were answered any time of day even weekends. I am already giving friends and family the advice to reach out to this great team.

Michelle Babcock

I can’t even find the words to describe the amazing service provided by Jeremiah. When I say we hardly had to lift a finger during this process, I mean that in every way. Jeremiah always had an answer, didn’t bother us unless absolutely necessary & just overall hyped us up through the entire process. I don’t think it could have been any less stressful with him in our corner doing all the leg work. Highly, highly recommend him if you’re looking for someone to find the right loan for you!! He made our little families hopes & dreams come true in the matter of minutes & we are forever grateful!! He was always available & responsive. If you’re in the market for a mortgage loan, he’s your guy!

Brooke Fitzgerald

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