The VA's IRRL Refinance Loan is Simple, Easy, & Beneficial for Veterans

Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI



The VA's IRRL Refinance Loan is Simple,

Easy, & Beneficial for Veterans



It sounds like an obvious.  Elementary too ...  


A loan program's primary mission should be:  Make life better and easier for the consumer(s) utilizing it.


If that's the goal, then the VA (Veteran's Administrationhas nailed it with their Interest Rate Reduction Loan.  This loan is better known by the acronym of "VA IRRL". 


What does the VA IRRL loan do?


This loan serves U.S. Veterans already holding an existing VA Loan by refinancing their present loan into a new lower interest rate loan.   This is accomplished all while requiring limited documentation from veteran borrowers. 


Because of the VA IRRL loan, I'd say the VA can proudly declare "Mission Accomplished"!


If verification proves that a veteran's current VA loan is being PAID ON TIME, very little additional documentation will be required from the borrower at the time of their new mortgage application. 


Most notably, no appraisal is required (once that info has been verified).  That is quite a savings to veteran borrowers, both in money and time.


Plus, some ... or all ... of the Closing Costs can be rolled into the new loan.  And veterans do not have to requalify for their new loan from an income/debt standpoint.


A Veteran's Administration IRRL Refinance Loan can typically be closed in a shorter period of time than other loans too.  This can be a huge benefit to Veteran Borrowers in search of much-needed monthly payment relief.


The new loan must meet VA's standards for veterans to receive the true benefits of doing the refinance.  This means that the payment savings need to offset the cost or increase in the Veteran's loan amount.  


Like most VA loans, the VA IRRL Refinance Loan can be made at 100% of the "Estimated Value" of the subject property.  Plus let me point out again ... the Closing Costs can be rolled into the loan (added to the base loan amount).  


Life is presently very challenging for many Americans ... particularly our veterans.  The VA IRRL Refinance Loan can help veterans face some of those challenges more easily. 


And that should be all our missions ...




* Are you dreaming of buying or refinancing a home or Investment Property in New Lenox - Will County - Chicagoland ... IL or WI

Contact me today! I'll put my 40 years of mortgage experience and expertise to work on your behalf. I'm easily found at:


Gene Mundt
Mortgage Originator - NMLS #216987 - IL Lic. 031.0006220 - WI #216987
American Portfolio Mortgage Corp
NMLS #175656
Direct: 815.524.2280
Cell: 708.921.6331
eFax: 815.524.2281












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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656


Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 


Your Referrals & Testimonials are Always Greatly Appreciated! 



Comments (3)

Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ

This is awesome new for people that currently have VA loans Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi . I will be sure to pass this info on to my clients.  Very good news.  Thanks for sharing it.

Nov 24, 2020 10:39 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

Greatly appreciate your doing so, Anna Banana Kruchten CRS CRB, Phoenix Broker ... the more that are aware of this potential savings, the better.  Thank you!


Nov 24, 2020 03:38 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes™- by eXp Realty - Vancouver, WA
REALTORS® in Clark County, WA

Thank you for this Gene. You are such a valuable resource in the Rain. Happy Thanksgiving to you too. 

Nov 25, 2020 09:59 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gene this is a great benefit for Veterans and not taken advantage of as much as it should be.

Nov 25, 2020 04:59 PM