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Is it possible to Refinance a VA second tier home loan?

Is it possible to streamline refinance a VA loan for a home purchased in 2013 using a "second tier"? Do I need to look outside of VA? Due to that second tier, the purchase price had to be over 144k. Does that make any difference? by ZacheryDomme670 from Hanamaulu, Hawaii. Feb 8th 2017 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Based on your question, I gather you have an existing VA loan which you used 2nd tier benefits to purchase it.. and your loan must have been over $144K to do it.. the answer is YES... you can use VA's IRRRL (Interest rate reduction refinance loan) to get your rate lower.. and, because it's a VA IRRRL, the funding fee is reduced.. Try contacting a qualified mortgage loan originator in your area (not the bank)... they can advise you once they see the complete picture..I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Feb 8th 2017
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Alan Van Zee (alan@hawaiimortgage.net)
#32 ranked lender in Hawaii - 9 contributions

Zach,Yes, I can help you refinance your existing VA loan, even if it was a second tier transaction. The VA IRRL program features no income or asset verification, and no appraisal is required.I look forward to hearing from you.Alan Van Zee, HAWAII Mortgage Company, Inc. 808-988-6622 NMLS #: 297154.

Feb 8th 2017
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Melissa Stutes (MelissaStutes)
#28 ranked lender in Hawaii - 97 contributions

Yes, your VA loan can be refinanced using the VA IRRRL streamline. This is a straight forward transaction, which doesn't require income or asset documentation. You are also not required to have an appraisal, saving you money in closing costs! Contact me if you want to discuss further. 808-561-7149 Mahalo!

Feb 10th 2017
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John Burke (jburke)
#1 ranked lender in Texas - 183 contributions

Hi Zachery,Yes you can do a VA IRRL with a 2nd tier entitlement loan. In fact, it doesn't matter that you're refinancing a 2nd tier loan. Please feel free to contact me for more information or help. John Burke - Senior Mortgage Banker - Lending in ALL 50 states - Great Plains National Bank - 877.228.9069 - NMLS# 787231

Feb 27th 2017
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