Interest Rate Reduction Refinance Loan

GPTKB entity

Statements (21)
Predicate Object
gptkbp:instanceOf mortgage refinancing program
gptkbp:abbreviation IRRRL
gptkbp:administeredBy gptkb:U.S._Department_of_Veterans_Affairs
gptkbp:alsoKnownAs gptkb:VA_Streamline_Refinance
gptkbp:benefit lower interest rate
lower monthly payment
gptkbp:eligibility current VA loan holders
gptkbp:feature limited documentation
can be used to convert adjustable-rate mortgage to fixed-rate
closing costs can be rolled into loan
funding fee may apply
no appraisal required in many cases
no cash-out allowed
no income verification in many cases
https://www.w3.org/2000/01/rdf-schema#label Interest Rate Reduction Refinance Loan
gptkbp:purpose refinance existing VA loan
gptkbp:requires must certify previous occupancy
must be current on existing VA loan
gptkbp:website https://www.va.gov/housing-assistance/home-loans/loan-types/irrrl/
gptkbp:bfsParent gptkb:VA_Home_Loan_Program
gptkbp:bfsLayer 6