whatever1
Contributor

I have a property I rent out because i couldn't sell before i moved.  Right now its on a 5/1 ARM that last year was the first rate jump.  Does USAA allow of IRRL for rental property?


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Hello @whatever1, USAA does offer refinances for rental properties. If the loan is already a VA loan you could qualify for an IRRRL. I recommend contacting one of our licensed loan officers at 800-531-8781 to get more details on your specific situation. 

5 REPLIES

@whatever1 Thank you for reaching out in regards to refinance of a rental property. I would be glad to engage the correct area so that a subject matter expert can respond. We appreciate the question. ~ Suzy

I want to refinance my VA 5-1 ARM to a VA IRRRL. According to this site I don’t need a home evaluation or a credit check, is this correct?

Thank you for your question @whatever1. I'll engage a loan specialist to provide an answer. The follow up should happen during regular business hours.

Good morning, @Whatever.  We do offer VA Interest Rate Reduction Refinance Loans (IRRRL) for investment properties.  Please contact our Mortgage Originations department by phone at 800-531-8722 (automated phone line) or you may apply online.  For VA refinance loans, we will need to verify that the seasoning requirement has been met along with verifying that there is a Net Tangible Benefit for you in completing a refinance.  Our Mortgage Originations department will be able to give you more specifics once you apply to give more information about your specific application.  We appreciate your membership and have a great day! -- Shawn

Hello @whatever1, USAA does offer refinances for rental properties. If the loan is already a VA loan you could qualify for an IRRRL. I recommend contacting one of our licensed loan officers at 800-531-8781 to get more details on your specific situation.