Delaware Veterans Administration IRRRL Refinance Loan Guidelines (VA Streamline Refinance)
If you currently have a Veterans Administration Home Loan, commonly called a VA Loan, then you have the option to do a streamline refinance to lower your interest rate called a Delaware VA IRRRL. This is called a Delaware VA IRRRL Refinance, which stands for Interest Rate Reduction Refinance Loan. You must currently have a VA loan on the property you want to refinance in order to qualify for a VA IRRL.
VA doesn’t require an appraisal on the property or any kind of credit check but most lenders will require a credit check to verify a minimum of 600 middle FICO score. Some lenders may also require a conventional exterior appraisal on form 2055 but this is NOT a requirement of the Department of Veteran Affairs, it is a lender overlay.