The Boulder CO VA IRRRL refinance program is a fantastic refinance opportunity which can be used to lower the rate and payment on your current Boulder CO VA IRRRL Loan. Many times, this can be done with little or no closing costs!
The Boulder Colorado VA IRRRL allows you to obtain a lower rate and payment on your existing Boulder CO VA Loan. The other term for a VA IRRRL is a streamline refinance, because the process is fast and easy.
First, you must determine your eligibility by talking to a Boulder Colorado VA Mortgage Loan specialist about your options and the savings you will realize. Find out more about your Veteran benefits through the Denver Regional VA Office.
It is important to know your savings going into the transaction, so that you know it makes financial sense. You will have a benefit from day one, because of the fact that we can help you with your Boulder CO VA IRRRL Refinance with no closing costs.
Qualification standards are not difficult. Although VA will state that there is no credit check or minimum credit score requirement, lenders have overlays or additional requirements above what VA requires. With a minimum credit score of 620 with most VA Lenders, you will get a better rate if you are above 640.
You must also be 2 years out of a bankruptcy. Although VA guidelines also state that you will not need an appraisal, in many cases we will need one. If you owe less on your home than it’s worth (up to 100% of your home value is acceptable), you will be able to get a better rate, but can still obtain a Boulder Colorado VA IRRRL up to 125% of your home value.
Your current Boulder CO VA Home Loan verifies that you have eligibility, so you will not have to verify your benefits again through obtaining a certificate of eligibility. The VA funding fee is low, only .5% of your loan amount (ie on a $200,000 loan the funding fee would be $1000), and is either financed into the new loan, or in some cases we can pay the VA funding fee for you, meaning you will not have to bring anything to closing.
You can find out what kind of rate you will qualify for by giving us a call in the office at 303-670-0137. Check out our company website at http://www.cohomesandloans.com. One of the first steps to getting started is to fill out a loan application and have your credit checked. Our philosophy is to give you honest advice and straight answers to your questions. Thank you for your service to our country- it means the world to us!
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