Refinanced!

boondr

boondr

Penalty Vectorer
Just saved $300+ a month by refinancing the house through the VA's IRRRL program. My wife and I thought we could never get it done do to the fact we owe more than the house is worth. We could afford the payment but it stinks that interest rates were so low but we couldn't take advantage of it. I called the bank (I love my bank, USAA, and didn't want to change) to ask if there was any possibility of doing it. Low and behold the IRRRL program. No appraisal, income verification or credit check (only needed that pesky appraisal thing to go away but I'll take all three). Sounds like scam and if someone called me to offer it I would have laughed at them, but it is true. Knocked 2% off the interest rate, and with the savings I'll break even on the closing costs in under 2 years.
:rawk::rawk:
 
That's very intersting to hear. My wife and I have our loan through US Bank but it's a VA home loan...I keep getting crap in the mail about this streamline thing...is this the same thing?
 
ozziecat35 said:
That's very intersting to hear. My wife and I have our loan through US Bank but it's a VA home loan...I keep getting crap in the mail about this streamline thing...is this the same thing?
Click to expand...

Yeah it is, but when I got that stuff (daily) I tossed it because I figured it was a scam. I called USAA to ask about a traditional refinance expecting to get laughed at because I am in the hole, and they told me they could do this because it does not require an appraisal. I trust USAA so I like the idea of staying with them for my mortgage.

See the link in the first post it is the va.gov website explaining them.
 
Thanks man, I'll definitely check it out...

I love USAA, I don't have them for my bank, but all my insurance is through them.
 
You must log in or register to reply here.
Back
Top