Michael,

Thank you for the explanation!  That makes sense. 

Tracy

I currently have a VA mortgage with my exhusband. I will be getting married here soon and wish to refinance this VA using my new husbands VA entitlement. Do I qualify for a VA IRRRL or do I have to start the process all over again? What are the steps

Oh yes, my current APR is 6.75

I currently have a VA mortgage with my exhusband. I will be getting married here soon and wish to refinance this VA using my new husbands VA entitlement. Do I qualify for a VA IRRRL or do I have to start the process all over again? What are the steps. My current interest rate is 6.75 APR

Kelly,

The IRRRL requires the current deed holders to remain on the new loan. So that won't work. You will have to qualify for a standard VA which of course means a new funding fee and the typical credit and income qualifications.

So you first step is finding a lender/broker. I would suggest using one of the quality firms in our directory (link tap top right). They will walk you through the process.

Merry Christmas (I guess it's ok to say that now that Thanksgiving is over).

Clem Borkowski

Kelly,

You may also want to explore either an FHA loan or a conventional loan, depending upon your particular circumstances.  Ultimately, you want to get the product giving you the best overall benefits.