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VA IRRR
The Benefits of a VA IRRRL: A Stress-Free Way to Lower Your Mortgage Payments
If you're a veteran or active-duty service member with a VA loan, you might be wondering how you can take advantage of lower interest rates without the hassle of a full refinance. The answer? The VA Interest Rate Reduction Refinance Loan (IRRRL), often called a "Streamline Refinance."
Here’s why the VA IRRRL is a fantastic option:
1. No Need to Re-Qualify
One of the biggest perks of the VA IRRRL is that you don't have to go through the full qualification process again. That means no need to provide proof of income, assets, or employment. As long as your new mortgage payment or loan term is reduced, you're good to go. This makes the process incredibly smooth and stress-free.
2. Minimal Documentation Required
We know paperwork can be a headache, but with a VA IRRRL, the amount of documentation needed is significantly reduced. You won't need to worry about gathering tons of financial records. This streamlined process is designed to save you time and effort, letting you focus on what matters most—enjoying the savings.
3. Automatic Approval
As long as your new monthly payment or loan term is lower than your current one, approval is virtually automatic. There's no need to sweat about meeting strict requirements or jumping through hoops. The VA has your back, making sure you can easily benefit from lower rates.
4. Refinance More Than Once
Here's something not everyone knows: if interest rates continue to drop, you can take advantage of the VA IRRRL more than once! While you do need to wait 210 days between refinances, this flexibility ensures you can keep reducing your payments whenever the market shifts in your favor.
5. Quick and Easy Process
The VA IRRRL is designed to be fast and efficient. Since there's no need for an appraisal or credit underwriting, the entire process can be completed quickly. This means you start saving sooner, without the usual delays associated with a traditional refinance.
Why Wait? Start Saving Today!
If you've been thinking about refinancing but are concerned about the hassle, the VA IRRRL is the perfect solution. With no re-qualification, minimal documentation, and automatic approval, it’s never been easier to lower your monthly mortgage payments. Plus, with the ability to refinance multiple times as rates drop, you have the flexibility to continue saving as the market changes.
If you're ready to explore how much you could save with a VA IRRRL, reach out to us today. We're here to guide you through the process and make sure you get the best deal possible.
Your service deserves the best, and we're honored to help you make the most of your VA benefits!
Testimonials
Dylan Maitland
" Nick has the determination to work hard for his clients and finding them a great deal on their mortgage or refinance while not sacrificing service or communication.
I've had the pleasure of having him on my personal mortgages and referring him to many of my clients and friends.
Thanks Nick! "
Chad Weiers
"Mitch and Nick have done a fantastic job assisting me to get a mortgage. They are honest and straightforward and were able to offer a few types of mortgage options. I highly recommend contacting them at NEXA Mortgage."
Bridget Auch
"I essentially interviewed about 5 lenders when choosing who to do business with when purchasing my first home. Nick was the first and only honest lender/broker. He is a true anomaly. After all was said and done, not only was he incredibly honest through and through, he got me the best rate among the other lenders too."
Brandon & Ashley Stadler
There is our second time working with Nick in the past 3 years! He provided us constant communication, is quick, concise and on top of it which you need in the housing market today! He always follow through on deadlines and is committed to his clients! Thanks Nick!
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The Distinction Team at Axen Mortgage
763-218-5788 / 763-234-8887
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