VA Streamline Refinance

As an approved lender for loans from the Department of Veterans Affairs, J.G. Wentworth provides multiple home mortgage refinancing options for current and former members of our armed forces and their families. We proudly offer VA Interest Rate Reduction Refinance Loans (VA IRRRL), also referred to as a VA Streamline Refinance, for veterans seeking an efficient way to reduce their interest rate. 

J.G. Wentworth is a direct lender of VA loans, known for providing veterans with low VA loan rates and customer satisfaction that is second-to-none. Our dedicated home loan specialists are more than happy to help you refinance your current mortgage with a VA Streamline Loan. Give us a call or fill out our simple online form today to get a quote in just a few minutes. 

VA Streamline Refinance: The Basics

VA Streamline Loans allow veterans to benefit from a fast and efficient refinance process that allows them to take advantage of reduced interest rates and lower their monthly payments. VA Streamline Refinancing is designed for veterans who already have a VA loan and wish to refinance into a fixed or adjustable interest rate, ultimately decreasing their monthly mortgage costs. This type of refinancing is particularly simple compared to other methods because it involves a refinance from one VA product to another. 

VA IRRRL loans are often referred to as “Streamline” loans because of the fact that they include a quick process with little-to-no documentation needed and have fewer requirements than a typical refinance loan. The are only three main qualifications for VA Streamline Refinancing, which stipulate that:

  • You do not receive cash back from the loan 
  • You are current with the payments on your existing mortgage 
  • You have previously lived in the home you are refinancing 

Additionally, VA Streamline Loans require that you benefit from the refinance. As a lender, J.G. Wentworth cannot approve the refinance unless your interest rate and monthly payment decrease, ensuring that VA Streamline Refinancing is always in your best interest. The only instance where you may not see a drop in interest rate is when you are using a VA Streamline Loan to refinance into an Adjustable Rate Mortgage (ARM).

Advantages of VA Streamline Refinancing

There are several notable benefits of VA loans that make VA Streamline Refinancing an attractive option for veterans and their families across the United States:

Reduced Interest Rate

Today’s interest rates for home mortgages are at a historically low level, making now the best time to refinance your home using a VA Streamline Loan. Since this refinancing method is specifically designed to reduce the interest rate on your mortgage, a VA Streamline Refinance allows you to take advantage of these low rates, potentially saving you thousands of dollars over the life of your mortgage.

Little-to-No Out-of-Pocket Costs

When you choose to refinance using a VA Streamline Loan, the closing costs and fees associated with refinancing can be rolled directly into the balance of your loan. In doing this, J.G. Wentworth helps you cut out all of the out-of-pocket costs that are usually associated with refinancing.

No Re-Appraisal Required

Sometimes, when you are looking to refinance your home, an appraisal is required to redetermine the present market value of your home. In almost all cases, a VA Streamline Refinance will not require you to get a re-appraisal on your home, saving you valuable time and money.

No New Certificate of Eligibility Required

While you will still need to prove your VA Eligibility, VA Streamline Loans do not require that you go through the process of renewing your certificate. Since you will be refinancing from your current VA loan, one of our mortgage loan specialists will pull your existing certificate of eligibility, saving you the hassle of getting re-certified. The only thing that you must have certified for a VA Streamline Refinance is that you have previously occupied the home.

No Income Documentation Required

Some refinance programs may require you to provide paperwork documenting your income before they will approve a loan. While it can be beneficial to have this information on-hand for your personal records, J.G. Wentworth does not require you to produce income documentation for VA Streamline Loan approval. 

Fast Loan Turnaround Time

While VA Streamline Refinancing is already designed to be a quick and easy process, J.G. Wentworth provides additional assurance that your VA Streamline Loan will have a fast turnaround time. We have fine-tuned our process so that everything moves as smoothly as possible, so you can start saving money sooner.

Get Your Free VA Streamline Refinance Quote Today

J.G. Wentworth is an approved VA lender with more than two decades of experience assisting veterans with mortgage refinancing. Whether you are looking for a VA Streamline Loan, VA Cash-Out Refinancing, or any other refinance options that we offer, getting a free, no-obligation quote is as easy as calling one of our loan specialists or completing our simple online form. Call or click today to take the first steps toward the home mortgage refinance that is right for you. 

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How do I get started?

J.G. Wentworth offers a wide variety of loan programs with low rates and no points and no hidden fees.  To get started, you can call us or let us contact you by completing a short form.  You can also get a rate quote in seconds with no personal information required. We look forward to working with you.