Sentences with phrase «guaranteed interest rate reduction»
If a service member or his or her spouse received a VA loan before the member's death, the surviving spouse may also be eligible for a VA - guaranteed Interest Rate Reduction Refinancing Loan (IRRRL).
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This program is available to homeowners with a VA - guaranteed home loan, and is also referred to as a VA Interest Rate Reduction Refinance Loan (VA IRRRL).
For loans of more than $ 144,000 made for the purchase or construction of a home or to purchase a residential unit in a condominium or to refinance an existing VA guaranteed loan for interest rate reduction, the maximum guaranty is 25 percent up to $ 50,750.
Competitive interest rates: The federal government guarantees every VA loan, resulting in the reduction of accompanying interest rates.
IRRRL - Interest Rate Reduction Refinancing Loan: This is a VA Mortgage Loan that takes mortgages in the VA Home Loan Guarantee Program and allows the owner to refinance the loan for a lower intereInterest Rate Reduction Refinancing Loan: This is a VA Mortgage Loan that takes mortgages in the VA Home Loan Guarantee Program and allows the owner to refinance the loan for a lower interest rRate Reduction Refinancing Loan: This is a VA Mortgage Loan that takes mortgages in the VA Home Loan Guarantee Program and allows the owner to refinance the loan for a lower interestinterest raterate.
Interest Rate Reduction Refinance Loan (IRRRL): The IRRRL is a «VA to VA» loan, meaning it can only be done if you have an existing VA guaranteed loan on the property.