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re: IRRL Advice
Posted on 7/16/19 at 8:12 pm to Gusoline
Posted on 7/16/19 at 8:12 pm to Gusoline
An VA-IRRL (Interest Rate Reduction Loan)is not a cash-out option. Using an IRRL your note has to drop by at least $50 a month. It's more or less like a streamline refi.
You would have to do a VA cash-out refi to get cash back.
You would have to do a VA cash-out refi to get cash back.
1
Posted on 7/16/19 at 8:54 pm to tigers1988
Im guessing that's what this is, trying to get me to cash out my homes value which is 20-30K above what I owe for it. so basically they'd give me the cash and add it to the note so id have zero equity?
This post was edited on 7/16/19 at 8:55 pm
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