I receive numerous offers to refinance my VA Loan through the Interest Rate Reduction Refinance Loan (IRRRL) program. Having a current VA Loan at 3.75%, my interest was piqued when I was offered an IRRRL loan at 2.25%. Further, the rate I see for new VA Loans is 4.098%. How is it that IRRR Loans can offer such a low rate?
Anyone have experience with IRRRL that can shed light?
@MARes1, We appreciate you bringing such a great question to our Member Community. I would encourage you to reach out to one of our Loan Officers by calling 1-800-531-0341 to discuss your specific loan questions. ~ Suzy