Can You Refinance a VA Loan?
One of the first steps we’ll help you take in the VA loan process in Fort Myers, FL, is to determine whether you are eligible to refinance your VA loan.
You may be eligible for an IRRRL if you:
- Already have a VA-backed loan AND
- Are using the IRRRL to refinance an existing VA-backed loan AND
- Can certify that you live in or used to live in the home covered by the loan.
Can you refinance a VA loan? The answer is “yes” if you meet all three conditions established by the VA.
How Soon Can You Refinance a VA Loan?
How soon can you refinance your VA loan? To keep veterans from being put in a poor mortgage lending situation, the 2018 Protecting Veterans from Predatory Lending Act was created. It requires a waiting period of 210 days from the date of the first mortgage payment or after the sixth monthly payment has been made, whichever is longer.
Contact Fort Myers Mortgage Experts Today & Let Us Help You Refinance Your VA Loan
An IRRRL is a relatively painless VA loan process in Fort Myers, FL, but it is still a good idea to have a mortgage professional help you through the steps. IRRRLs typically have minimal credit or income requirements, and for most applicants, there is no need for a new appraisal, so closing fees are lower.
At Fort Myers Mortgage Experts, we emphasize the personal and human components of the homebuying process. To embrace that and thank you for your service, we waive all processing, underwriting, and application fees on VA loans.
Contact us today, and we’ll get you started on your Interest Rate Reduction Refinance Loan and discuss any other loan options you want to explore.