VA IRRRL
Min. FICO 580
Up to 110% CLTV
The VA Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined refinance option for veterans and active-duty service members with existing VA loans. This solution allows borrowers to lower their interest rate and monthly mortgage payments with minimal paperwork and underwriting requirements.
Program features- Loan amounts up to $1.5 million
- Min. FICO 580
- Up to 110% LTV
- High balance allowed
- Manufactured homes
- $500 cashback as a result of incidental changes at closing
- Only ownership certification required
- Appraisal is not required
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Program details
Loan amounts up to $1.5 million
No appraisal or credit underwriting required
Primary residence, Investments, Second Home
Manufactured homes
Up to 110% LTV
Ownership certification required
No appraisal or credit underwriting required
Existing VA loan required
Rate & Term only
Eligible VA borrowers: Veterans, Reserve and National Guard members (called to active duty); Active duty service members; Current Reserve and National Guard members (after six years of creditable service); Certain surviving spouses.
No private mortgage insurance (PMI) or mortgage insurance premiums (MIP) required
Temporary rate buydowns are not allowed
$500 cashback as a result of incidental changes at closing
Eligible property: 1-4 unit, Condominimum, PUD, Manufactured Home, Modular Home
Various fixed terms
Eligible citizenship: US citizens
Eligible VA borrowers: Veterans, Reserve and National Guard members (called to active duty); Active duty service members; Current Reserve and National Guard members (after six years of creditable service); Certain surviving spouses
Fast turnaround times
As fast as
24 hr
Disclosure
As fast as
24 hr
Underwriting
As fast as
48 hr
To start doing VA with AD Mortgage you need to be VA approved partner and establish agent relationship with AD in VA system. Once you are VA approved, please, send an email with Agent VA ID Number, Federal tax ID, NMLS and Company name to sponsorship@admortgage.com so your request can be reviewed.