Welcome to the updated Slickdeals redesign beta. Learn more and give us feedback. Or, return to the classic view.

Search in
Forum Thread

VA IRRRL Lenders? Any Recommendations?

jmurrhee 68 June 8, 2012 at 12:22 PM
Deal
Score
0
5,865 Views

Thread Details

Hi all,

I was interested in getting an IRRRL (Interest Rate Reduction Refinancing Loan) from my current rate of 4.75% with USAA. I have only lived in the house 1.5 and has a LTV of 96%. I have a 760+ credit score but I have been told that doesn't matter since it is a VA loan.

Does anyone have any recommendations on lenders or know of any that offer the best rates/incentives?

Thanks

11 Comments

1

Sign up for a Slickdeals account to remove this ad.

#2
Have you talked with USAA yet? Most lenders require an appraisal if they don't currently service your loan so USAA might be your best bet to do the IRRRL. If you are certain about the 96% LTV, then any lender will be fine, but like I said you'll have to do an appraisal.
Reply Helpful Comment? 0 0
#3
Quote from jmurrhee View Post :
Hi all,

I was interested in getting an IRRRL (Interest Rate Reduction Refinancing Loan) from my current rate of 4.75% with USAA. I have only lived in the house 1.5 and has a LTV of 96%. I have a 760+ credit score but I have been told that doesn't matter since it is a VA loan.

Does anyone have any recommendations on lenders or know of any that offer the best rates/incentives?

Thanks
There are VA IRRRL wholesale lenders that offer No income, No appraisal, 620 min credit score.
-Adam
Reply Helpful Comment? 0 0
#4
Quote from jmurrhee View Post :
Hi all,

I was interested in getting an IRRRL (Interest Rate Reduction Refinancing Loan) from my current rate of 4.75% with USAA. I have only lived in the house 1.5 and has a LTV of 96%. I have a 760+ credit score but I have been told that doesn't matter since it is a VA loan.

Does anyone have any recommendations on lenders or know of any that offer the best rates/incentives?

Thanks
I'm at 812 score and 6 months into my loan with Penfed at 4.375. It dropped to 3.5 for a few days and I called them to refi. They said their requirements was 75% LTV.
Reply Helpful Comment? 0 0
#5
Quote from tiedyed1 View Post :
There are VA IRRRL wholesale lenders that offer No income, No appraisal, 620 min credit score.
-Adam

Adam, any suggestions on lenders not requiring the appraisal? Like many, i'm underwater and my loan is VA.
Reply Helpful Comment? 0 0
#6
dragon76, I just PM'd you.
-Adam
Reply Helpful Comment? 0 0
#7
Quote from tiedyed1 View Post :
dragon76, I just PM'd you.
-Adam
Adam,

I am looking for a VA IRRL, Not score driven and no appraisal required. This property is in the Kansas City Mo area. email me cseely@mchsi.com
Reply Helpful Comment? 0 0
#8
Quote from tiedyed1 View Post :
There are VA IRRRL wholesale lenders that offer No income, No appraisal, 620 min credit score.
-Adam
Tiedyed,
can you elaborate on the wholesale IRRL offerings?
Thanks
Reply Helpful Comment? 0 0

Sign up for a Slickdeals account to remove this ad.

#9
Quote from Josh-MichaeleK View Post :
Tiedyed,
can you elaborate on the wholesale IRRL offerings?
Thanks
Generally speaking, within the resources I see:
Wells to Wells does not require an appraisal.
Otherwise, up to 105% LTV with drive by and 115% LTV with full appraisal.
640 minimum score.

-Adam
Reply Helpful Comment? 0 0
#10
Quote from saladdin View Post :
I'm at 812 score and 6 months into my loan with Penfed at 4.375. It dropped to 3.5 for a few days and I called them to refi. They said their requirements was 75% LTV.

They told me the same.
Reply Helpful Comment? 0 0
#11
Quote from saladdin View Post :
They told me the same.
I am at 80% LTV and 800 credit score, currently financed through BofA. Any recommendations for who is cheapest on the refi? Even BofA wants an appraisal, and their rates are pretty awful. It is looking like Navy Federal so far.

Thanks for the advice
Reply Helpful Comment? 0 0
#12
Quote from Josh-MichaeleK View Post :
I am at 80% LTV and 800 credit score, currently financed through BofA. Any recommendations for who is cheapest on the refi? Even BofA wants an appraisal, and their rates are pretty awful. It is looking like Navy Federal so far.

Thanks for the advice
Navy Federal is probably the best bet.
Reply Helpful Comment? 0 0
Page 1 of 1
1
Join the Conversation
Add a Comment
 
Slickdeals Price Tracker
Saving money just got easier.
Start Tracking Today
Copyright 1999 - 2015. Slickdeals, LLC. All Rights Reserved. Copyright / DMCA Notice  •  Privacy Policy  •  Terms of Service  •  Acceptable Use Policy (Rules)