We thank our veterans for their service and we are proud to have veteran employees. Our veteran employees specialize in assisting fellow service men and women, and we have closed many VA loans.

Unfortunately, once a VA loan closes, veterans are deluged with solicitations from many lenders to refinance. Some of our clients have called and questioned why they are being solicited so heavily. It is because many lenders know the VA Interest Rate Reduction Refinance Loan (known in the lending world as the IRRRL) requires little effort for them to process and close.

Be careful and make sure the refinance benefits you, the veteran, and not the lender.

In order to be eligible for the loan, you must already have a VA loan, are using the IRRRL to refinance the VA loan, and certify you live or used to live in the home covered by the loan. You can get an IRRRL to lower your monthly payment by lowering your interest rate, or make your payment more stable by moving from an adjustable rate mortgage to a fixed rate mortgage. Income documentation is not required, nor is an appraisal in many instances. Your current mortgage must not be 30 days or more past due at the time of application, and must be current prior to closing. The loan must result in a net tangible benefit to you, which if you are refinancing from a fixed rate loan into another fixed rate loan, means an improvement in rate by at least 0.50%. The new Note date must be 210 days or more after the date of the first payment due date on the loan being refinanced.

If you think you can benefit from a IRRRL, contact us and we can help you.

We offer a variety of products and services, ask us how we can assist you today:
Counsel Mortgage Group®, LLC
NMLS #178927
AZ MB #0909580
CA DBO #60DBO43873

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