Texas VA Streamline Refinance: Texas IRRRL Program

Texas VA Streamline Refinance

The Texas 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 refinance is sometimes also referred to as the VA IRRRL program. The VA streamline / IRRRL refinance was designed to require as little documentation as possible in order to qualify for the loan.

Texas VA Streamline Refinance Program Highlights Include:

• The VA Streamline does not require an appraisal
• Veterans are not required to pay out of pocket costs – all costs can be rolled into the loan
• No “cash out” allowed
• Possible to defer up to 1 mortgage payment after closing
• No income, asset or employment verification

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, finding out if the VA streamline refinance is right for you is easy. Contact your Texas VA streamline experts now — 888.448.2669.