Kentucky VA Loan Refinance and Purchase Guidelines
Louisville Kentucky Mortgage Loans
How do I refinance using my Kentucky VA Home Loan?
You can use your Kentucky VA home loan benefit to refinance your existing VA home loan to a lower
interest rate, with little or no out-of-pocket cost. This is called an Interest Rate Reduction
Refinancing Loan (IRRRL), also known as a “rapid refinance” or a “streamline refinance.”
Generally, no appraisal, credit information, or underwriting is required for this refinancing
option, although some lenders may require an appraisal and credit report. The fees and
charges associated with the refinancing loan may be incorporated into the new VA loan.
Remember: The interest rate on the new loan must be lower than the rate on the old loan
(unless you refinance an adjustable-rate mortgage to a fixed-rate mortgage).
To receive an IRRRL, work with your lender to process your application. It’s generally a good
idea to compare several lenders’ rates…
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