What is a VA IRRRL?
The VA Interest Rate Reduction Refinance Loan, or VA IRRRL to shifts your VA mortgage balance to a loan with a lower interest rate. A fast, easy application process and low costs make this an attractive refinancing strategy for qualifying veterans. If you have a VA mortgage at a higher rate than current offering, the IRRRL VA program could lower your payments and save you a lot of money.
The Benefits of a VA IRRRL
Let’s take a look at the benefits of the VA IRRRL program.
Skip two mortgage payments
Receive your current escrow account money in the form of a refund
Lower your interest rate at least .5%
No out of pocket costs
Recoup any costs within 36 months
Lower you monthly payments
Accelerate the payoff of your mortgage by reinvesting your monthly savings into your payment
Lower your loan term, (including odd year terms, 29,28,27 etc. year mortgages)
Calculate Your Loan Payment
Enter the notice number you received in the mail plus your zip code to view your loan amount and estimated monthly payment.
Current Loan Information
Below is the information we have on file.
New Loan Information
Input your current interest rate, total payment, and credit score to review your new loan information.
| New Loan Amount | $0 |
| New Interest Rate | 0% |
| Principal & Interest | $0 |
| Taxes | $0 |
| Insurance | $0 |
| Total Payment | $0 |
| Monthly Savings | $0 |
| Annual Savings | $0 |
| Total Savings | $0 |
Beat the Bank Benefits
Reinvest your savings into your mortgage
Cash Back
| 2 Skipped Payments | $0 |
| Estimated Escrow Refund | $0 |
| Total Cash Refund | $0 |
Savings Outlook
| Payoff mortgage in | 0 Years |
| Total payment savings | $0 |
| Total additional principle in 1 year | $0 |
| Total saved in interest payments | $0 |
| Loan Officer |
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Other Helpful Resources
Here are some resources to help you with your choice:
Free Report
At Credence Funding Corporation we have compiled these free reports to help you become an informed consumer.
FAQ
If you have questions, we have answers. This is a list of the inquiries we hear the most:
Glossary
Mortgages and the language used to describe them can be confusing. We have compiled definitions for common terms:
Free Report
At Credence Funding Corporation we have compiled these free reports to help you become an informed consumer.
FAQ
If you have questions, we have answers. This is a list of the inquiries we hear the most:
Glossary
Mortgages and the language used to describe them can be confusing. We have compiled definitions for common terms:
What Others are saying
We work closely with many individuals to fulfill there mortgage needs, The sentiments of our clients matters deeply. We’re proud to share what they’re saying about us.
It was a pleasure working with Credence Funding Corporation. The VA Streamline Process is great and our Loan Consultant always worked hard to get us the best deal with not much effort on our part. We have done this two times now to save us money monthly and for the life of the loan due to a much lower interest rate. Thank You for making this process so easy. We Love our new rate!
Brenda and Gerald Vitale
I refer all of my clients to Credence Funding Corporation, and I trust their work so much that I have obtained all of my own loans (VA IRRRL) through them as well. They do an exhaustive search to get you the most competitive rate and find the best mortgage program available. Their ability to structure solutions and find advantageous financing sets them apart.
Robert B, ESQ.
As a trusted financial advisor, I need and expect the utmost in service for my clients, and that is exactly what Credence Funding Corporation always delivers. They handle all of the tedious paperwork and make the process painless. In fact, many of my clients have returned to Credence Funding time and again for all of their additional mortgage needs.
Greg B, CFP
Great job in refinancing my VA mortgage after my current bank took over 3 months and couldn't get their act together. Your team was good at communicating and answering questions that I had. Looking forward to working with y'all for many years to come.
Robert B. Retired Colonel US Army
My IRRRL refinance loan was handled effectively and efficiently by the Credence Funding loan officer. I was kept informed of the loan’s process and all questions were answered promptly. Thank you for helping me through this easy process.
Gary J. Retired Marine Corps
We would like to acknowledge the exceptional service that we received during the entire VA IRRRL refinancing process. Loan officer’s professionalism and knowledge of the industry was impressive and truly appreciated. In the past, we have had experience with several others banks and have found the process frustrating and tedious. Credence Funding Corporation went above and beyond to ensure that all of our needs were met and that everything was handled thoroughly and efficiently. We have and will continue to recommend this Company
About us
At Credence, we treat each customer as an individual, not a number. We don’t place you into a loan profile formula created by the banking industry. We use “common sense” and will help you obtain the best loan possible. We represent a wide range of “A” rated lenders with first quality rates to private “hardship” lenders.
We work with more than 100 investors. This allows us to get you the most competitive rates on all types of loan programs including: 30yr mortgage, 20yr mortgage, 15yr mortgage, 10yr mortgage, 1yr ARMS, 3yr ARMS, 5yr ARMS, Conventional, Jumbo, Home Equity Lines, VA and Commercial. Whether your situation calls for Full Documents, No Documents, Non-Owner Occupied (Investor) or Multi-Family, we’ll fit your needs!
Equal Housing Opportunity