Is there such as thing as the Bank of America IRRRL Program?
Yes and no.
Yes, there is really a program called the VA IRRRL program that is designed to allow Veterans who have a VA loan on their home to refinance the VA loan into a lower interest rate if they meet the VA IRRRL guidelines.
No, the IRRRL program is not specific to Bank of America (or any other bank). There are approved VA lenders (of which, Bank of America is one) who can help you with the VA IRRRL program and are approved to lend mortgage loans that are insured by the VA.
Bank of America IRRRL Program
Sometimes the confusion happens when Veterans first hear about the VA IRRRL program at a particular lender (such as Bank of America) and they think that the particular lender where they heard it is the only lender where the program can happen.
But the VA IRRRL program is one that most any lender who is VA approved can help you refinance in the IRRRL program and you will be just fine. In fact, because there are so many lenders who can do the VA IRRRL loan, it makes sense to shop among various lenders who can possibly help you and find out who can give you the best deal on the VA IRRRL loan that you are seeking.
Ready to get started? Take a minute to fill out the short form below to get matched with a VA-approved lender. Shopping multiple VA approved lenders is the easiest thing that you can do to be sure you are getting the best deal. Each VA lender will have slightly different guideline overlays, rates and fees. Getting a free written quote from multiple lenders allows you to easily compare your options and choose the right program and lender for your situation. Get started by submitting your information here and we will match you up with a great VA approved lender who can help you get qualified and give you a great deal.