VA IRRRL – Beat the market

Attention VA Loan Borrowers

Are you currently paying an interest rate above 6.75% on your VA loan? If so, we have an incredible opportunity for you to lower your rate and save money!

Our top lending partner is offering VA IRRRL (Interest Rate Reduction Refinance Loan) with interest rates of around 5.75% (5.869% APR) for qualified borrowers. This significant reduction can lead to substantial savings on your monthly payments and overall interest costs. Imagine what you could do with the extra money saved each month—whether it’s paying down other debts, investing in home improvements, or simply enjoying a bit more financial freedom. A lower interest rate can make a big difference.

The VA IRRRL Mortgage Program

The VA IRRRL mortgage program is a specialized option offered by the Department of Veterans Affairs (VA) to help eligible current and former military personnel lower their monthly mortgage payments by refinancing their existing VA loan. This unique program was designed to make it easier for veterans to take advantage of a lower interest rate and reduce their financial burden.

Features and Benefits:

1. Streamlined Process: The VA IRRRL program offers a simplified and streamlined process with less documentation and paperwork, making it easier and faster to complete the application process. This is particularly beneficial for veterans who want to take advantage of lower interest rates without the hassle of extensive paperwork.
2. No Appraisal Required: Unlike other refinance programs, the VA IRRRL program generally does not require a new appraisal of the property being refinanced. The loan is based on the original appraisal conducted at the time of the original VA loan, saving both time and money. This expedites the process and makes it more accessible for veterans and allows closing on the new loan in as little as 15 days from application.
3. Flexible Terms and Options: Veterans can choose between fixed-rate and adjustable-rate mortgages (ARMs) based on their financial needs. This flexibility allows veterans to tailor their mortgage to their specific requirements, ensuring maximum benefit from the program.
4. No Out-of-Pocket Expenses: The VA IRRRL program typically allows veterans to include all closing costs and fees into the new loan amount, eliminating the need for immediate out-of-pocket expenses. Veterans can roll these costs into their loan, reducing their upfront financial burden.
5. Reduced Documentation and Underwriting Requirements: Compared to traditional mortgage programs, the VA IRRRL program requires less documentation and has more flexible underwriting requirements. Veterans are not burdened with debt ratio limits, income verifications, or appraisals.

Eligibility Criteria:

To qualify for the VA IRRRL mortgage program, veterans must meet certain criteria, including:

1. Current or Previous Military Service: Veterans must have a valid certificate of eligibility (COE) proving their military service record.
2. Current VA Loan: Borrowers must have an existing VA loan that they want to refinance through the IRRRL program.
3. Timely Payment History: Veterans must have a good repayment track record on their existing VA loan over the past 12 months.
4. Lower Interest Rate and Payments: Refinancing must result in a lower interest rate or reduced monthly payments for the veteran.

How to Apply:

1. Gather Required Documents: Collect all necessary documents, including a current mortgage statement, current insurance declarations page, and the existing VA loan details.
2. Find a mortgage broker: Find a mortgage broker experienced in helping veterans refinance.
3. Complete the Application: Fill out the IRRRL loan application provided here.
4. Await Approval and Closing: The lender will review your application, verify the information, and if approved, prepare the loan closing documents.
5. Sign the Closing Documents: Review and sign the closing documents to complete the refinancing process.

It is important to note that while the VA IRRRL program offers numerous advantages, it may not be suitable for every veteran. Individual financial circumstances and goals should be carefully considered before proceeding. Consulting with a professional from Capital City Mortgage is crucial to evaluate the potential benefits and gather personalized advice.

Act Now!

Don’t let this opportunity pass you by. The window to lock in these lower rates is closing soon. You must act by September 3, 2024, to take advantage of this exclusive offer.

Contact us today to start the process. Our team is ready to assist you every step of the way to ensure you benefit from these lower rates and reduced payments.

Call us at 402-489-2099 or visit https://simplifymyvaloan.com/va-loan/ to get started now!

Remember, the deadline to lock these lower rates is September 3, 2024. Don’t wait for the Federal Reserve or market conditions to determine your financial well-being. Take control of your mortgage and your future today.