The VA IRRRL program in Edgewater CO is a refinance opportunity which can be used to lower your rate and payment for your Edgewater Colorado VA IRRRL Loan. In many cases, we can help you with no closing costs!
The Edgewater Colorado VA IRRRL allows you to essentially convert your existing Edgewater CO VA Loan to a new one with a lower rate and payment. The VA IRRRL refinance is also called a a streamline refinance, because the process is fast and easy.
The first step to determine your savings and your options by talking to a Edgewater CO VA Home Loan specialist. You can find out more about your benefits as a Veteran 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 Edgewater 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. Most lenders have a minimum credit score of 620, and you will get a better rate if you are above 640.
It's also required to 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. You can obtain a Edgewater CO VA IRRRL Loan up to 125% of your home's value, but will get a much better rate if you owe less than the home is worth.
We will not need to verify your VA home loan benefits through ordering a new certificate of eligibility, because you already have your benefits confirmed due to the fact that you have a current Edgewater Colorado VA Loan. 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 your rate and payment will be by giving us a call in the office at 303-670-0137. You can learn more about our company at http://www.cohomesandloans.com. The first step to getting started is to fill out a loan application and have your credit checked.
However, we do not believe in high-pressure sales tactics, and instead will give you honest advice and straight answers to your questions. Thank you for your service to our country- it means the world to us!