Indigo Mortgage: Get a 100% Refinance on Your VA Loan

Right now, the U.S. Department of Veteran?s Affairs has some great news for Vets who would like to refinance their mortgage loans. If you are currently an active service member or are a prior military veteran, you can refinance your mortgage and make use of the lower interest rates that are now being offered.

The best part is that you can get 100% of your mortgage refinanced, and you can do it with no out-of-pocket expenses.

What Do I Need?

If you already have a VA loan on your home, you can take advantage of this refinancing without another Certificate of Eligibility. You may need another credit check because the lender wants to be sure that you are still credit worthy.

There may also be another appraisal to be sure that your home still has a similar market value. You will need to provide proof that you are the occupant of the property or that you previously occupied it. As you can see, these requirements make this program a little bit different from other refinance programs.

What Does IRRRL Stand For?

IRRRL stands for Interest Rate Reduction Refinance Loan. You may have read somewhere that these loans are also referred to as a ?Streamline? or ?VA to VA? loan. You do not have to go to any special lender to get an IRRRL.

You don?t even have to go to the lender you currently finance your home through. Indigo Mortgage is pleased to be a part of this 100% refinance program so we would be happy to assist you with this refinance opportunity.

Can I Add Home Improvement Money to My Refinance?

Yes, but you can only add up to $6,000 and this must be applied to energy efficiency improvements. If you are wondering what the maximum amount that can be refinanced, the answer is that the loan may not exceed the sum of the outstanding balance on the existing VA loan, plus allowable fees and closing costs, including funding fee and up to two discount points. The improvement amount allowed is then above these amounts.

Where Can I Get Assistance?

You can get further information from the website for Veterans? Affairs or you can give Indigo Mortgage a call and get the details from us. We value our veterans? service and hope that we can make your refinance simple and smooth. Check our website for information of refinancing or for information on first-time loans.

On the Loan Center page, click on one of the links to get a list of documents you will need for various types of mortgage loans. Talk to one of our loan officers if you still have questions.

Let us, at Indigo Mortgage, help you take care of your refinance or your first-time purchase.

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