VA Interest Rate Reduction Refinance Loan
The Interest Rate Reduction Loan (IRRL) program allows qualified veterans to refinance from an existing VA mortgage to a new VA loan with a more favorable interest rate. Those in a fixed-rate loan must refinance to a lower rate to utilize this loan program. Veterans who currently have VA adjustable rate loans may switch to a higher interest rate, but the rate must be fixed.

The IRRL does not allow borrowers to take out any cash during the refinance process, nor can the loan be used to pay off any mortgage other than the original VA home loan. In addition, the funding fee is only .5% vs. 3.3% for any other subsequent use of one’s VA entitlement.

If your current VA loan has a high interest rate or you want the security that comes from a fixed-rate mortgage, the IRRRL program may be right for you. We update our VA loan rates daily, so contact a VA home loan specialist to start your refinance application and see how much you can save today!

C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622. C2 Financial is a VA approved lender; not endorsed or sponsored by the Department of Veterans Affairs or any government agency. Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Bureau of Real Estate: Broker #01821025. NMLS #135622. California Bureau of Real Estate #01326712, NMLS#84095.
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