There are a lot of good things about VA IRRRL. Time and again, Veterans have been reaping the rewards of refinancing through this VA-backed program. IRRRL stands for Interest Rate Reduction Refinancing Loan. As the program name suggests, it aims to bring down the current mortgage’s interest rate. By doing so, the homeowner will get […]
One of the typical VA IRRRL closing cost items is the VA funding fee. The VA funding fee is the ONLY fee that is REQUIRED by the VA.
VA Funding Fee The IRRRL VA funding fee may only be paid in cash or financed as part of the mortgage (as long as the inclusion of the funding fee to the mortgage amount does not exceed the current maximum mortgage amount). However, the funding fee may be split only when the total loan amount […]