IRRRLInterest Rate Reduction Refinance Loan
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References in periodicals archive ?
A refinancing loan under the ;ash-out program differs from VA IRRRL n that an appraisal is required and the borrower must qualify for the loan.
The VA interest Hate Reduction Refinancing Loan (IRRRL) program, also known as VA Streamline Refinancing, provides a way for current VA homeowners to lower their interest rate with little or no out-of-pocket costs.
VA IRRRL allows borrowers to refinance their current VA-guar-anteed mortgage with a loan that has a lower interest rate.