Those percentages could be much higher. Eligible Veterans often bypass the VA home loan REFINANCE (irrl) for more expensive programs.
For most, that’s a mistake.
VA Refinance
The VA IRRRL program stands for Interest Rate Reduction Refinancing Loan. It’s meant to reduce the veteran’s VA loan rate quickly and easily.
It requires no pay stubs, no W2s, no appraisal. No kidding.
That reduces the time and effort required for Veterans to get into today’s record-low rates.
There is no better refinance product on the market, but it’s only for Veterans who have VA loans currently.
For other Veteran homeowners, the VA cash-out refinance allows you to refinance out of any loan type, get rid of mortgage insurance, drop your rate, and turn home equity into cash, if you’d like.
Most Veterans would pay more and cost themselves more time by choosing a non-VA refinance
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