VA Refinance

Cash out refinance

VA Streamline – Reduce Your Monthly Mortgage Payment Simply and Quickly

A VA Interest Rate Reduction Refinance Loan (IRRRL) is often referred to as a VA Streamline and is an opportunity to refinance your VA loan to lower your interest rate, or to move from an adjustable rate to a fixed rate with little or no out-of-pocket costs.

According to the US Department of Veteran Affairs:

  • No appraisal or credit underwriting package is required when applying for an IRRRL.
  • An IRRRL may be done with “no money out of pocket” by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.
  • When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase.
  • No lender is required to give you an IRRRL, however, any VA lender of your choosing may process your application for an IRRRL.
  • You may NOT receive any cash from the loan proceeds.
  • There may be a small funding fee that can be waived under certain circumstances.
  • There may be a limit on the amount of money you can finance based on your county.

Give us a call to get the details.

VA Cash-Out Refinance

You may want to access some of the equity in your home to pay off debt, pay for your kids’ college, a wedding, home improvement or other use. Eliminating high interest credit cards can be excellent for your monthly cash flow. A VA Refinance is a very easy process which includes an appraisal of your home. We will guide you through each step and you will have the funds in your bank in 30 days or less!

 

Reach Out to Silver Leaf Mortgage Today

It is always a good idea to speak with a Senior Loan Officer at Silver Leaf Mortgage before you go house hunting with your Realtor so that we can provide you with a pre-approval letter. Sellers are far more likely to accept an offer that is backed up with a lender letter indicating that you will be able to get a loan to complete the purchase transaction.

Call Silver Leaf Mortgage today to find out how you can get a great rate, a fast closing with no money down! At Silver Leaf Mortgage, we are a Denver-based mortgage company with over 98 years of combined experience in the mortgage industry. We have helped people all over Colorado, and know how exciting and overwhelming a new home purchase can be. We’re committed to guiding you every step of the way with your purchase or refinance. Our motto is “to love and serve our clients well.” Call or email now (720) 458-4036 or Info@SilverLeafMortgages.com or simply fill out the form below.