Top 3 Lenders with the Best VA IRRRL Rates for Veterans
Explore the top three lenders offering the most competitive VA IRRRL rates. Veterans can benefit from low interest options, flexible terms, and additional perks from top-rated financial institutions like Veterans United, USAA, and Navy Federal. These lenders provide favorable refinancing solutions tailored for veterans, helping them achieve lower payments and more secure mortgage terms with minimal hassle.
Leading Lenders Offering the Most Competitive VA IRRRL Rates
The US Department of Veterans Affairs (VA) provides veterans with the Interest Rate Reduction Refinance Loan (IRRRL), a helpful refinancing option. This program allows existing VA loan holders to lower their interest rates, reduce their monthly payments, and switch from adjustable to fixed-rate mortgages. One major benefit is that borrowers do not need a new Certificate of Eligibility or proof of income. If you already have a VA loan, refinancing is straightforward. Discover the top lenders currently offering the most attractive VA IRRRL rates below:
Veterans United Home Loans
Recognized for processing the highest volume of VA loans from 2016 to 2020, Veterans United offers programs with no down payment and supports first-time homebuyers. Their VA loan options include six 30-year plans, such as the Streamline IRRRL, VA Cash-Out, and Jumbo loans, with some of the lowest VA IRRRL rates like 2.750% for a 30-Year Fixed and 2.990% for the VA Cash-Out Jumbo. Rates vary based on credit scores and market trends.
USAA
Known for VA jumbo home loans up to $3 million without charging VA funding fees, USAA offers various benefits including insurance, banking, and member discounts. Their streamlined online process helps borrowers estimate mortgage payments and secure pre-approvals easily. Final documentation, however, must be completed in person. VA IRRRL rates with USAA can be as low as 2.875%, with jumbo rates around 3.500%.
Navy Federal Credit Union
This credit union allows borrowers to skip the down payment and avoid private mortgage insurance. They offer VA purchase, refinance, jumbo, fixed, and adjustable-rate loans with VA IRRRL rates between 2.100% and 2.465%, depending on the loan term. Navy Federal also provides the Freedom Lock feature, enabling borrowers to lock or float interest rates without extra cost. Their Rate Match Guarantee promises to match lower rates found elsewhere or pay $1,000 upon closing if they cannot.
