Unlock the VA IRRRL Loans and Their Perks!

The VA IRRRL loan - it's a mouthful, I know. But what is it, exactly? Well, it's a type of loan designed for veterans who already have a VA loan and want to simply lower their payment and interest rate.

The VA IRRRL loan offers a range of features that make refinancing to lower your payment a lot easier. For one, you won't need income, job or asset documentation. No appraisal is needed and the cost to do it is the same as your regular monthly payment.

For borrowers who are 10%, or more disabled, the VA Funding Fee is waived. For everyone else, the VA Funding Fee is only 0.5% of the loan amount regardless of your prior usage.

But who qualifies for this amazing loan? Well, if you're a veteran who already has a VA loan, you're probably eligible. There are very few exceptions. Contact us here Smartest Loan.com if you have any specific questions.

What does this look like in real life? Bob, a veteran who purchased his home using a VA loan a few years ago notices the interest rates have dropped, and realizes he could save some serious cash by refinancing. He chooses a VA IRRRL loan to get a lower interest rate and lower monthly payments. With the money he saved, Bob is able to save $225 a month. He adds that to his mortgage and pays his home off 6 years sooner. Or, best case, Bob uses that cash to pay off his high-interest credit cards, then puts the $225, PLUS the money saved on the credit cards and pays off his mortgage 14 years sooner.

Bob's story is just one example of how the VA IRRRL loan can have a real, tangible impact on veterans' lives. It’s not just about saving money on the house. When you're able to refinance your home to a lower payment, with no hassles, you can use that cash to make your life better is so many ways.

In short, the VA IRRRL loan is an incredible tool that can help veterans save money, refinance with ease and achieve financial stability. So if you're a veteran looking to refinance your home, I highly recommend exploring this option. See how much you can save and where you could best use that additional cash to make your financial future better than ever.

Use this link Smartest Loan.com to check out a VA IRRRL mortgage calculator with today's rates to see how much money you can save each month.