VA Interest Rates are Dropping!! Let your Local Treasure Valley VA home loan experts help today!
How Much Can You Save??
Call us today 208-424-6770 Office here in Meridian, Idaho
Text after hours 208-900-8035 & weekends
Creekside Mortgage is an independent local to the Treasure Valley Mortgage Broker. We have been doing VA home loans here in Idaho for our fellow Veterans since 2005. We have access to many different banks and will place your loan with the bank that fits best. Being independent we have many more options than most lenders in our area, and when rate improve, we can always move your loan around to that better option. VA IRRRL (Interest Rate Reduction Refinance Loan) have so many benefits, and we have included a few videos below to help you navigate through those advantages. We look forward in helping you and want ever Veteran to take these benefits to their full advantage. We hope to be able to talk with you soon, and always feel free to ask any questions.
Creekside Mortgage is a Local Broker
Here at Creekside Mortgage, we are a local broker that specializes in VA Home Loans. This means we have the ability to shop around at different banks to find you the place that best fits your needs. You can come into the office at any time and we can help point you in the right direction.
Another benefit of doing a VA IRRRL is you can skip up to 2 months’ worth of house payments. You can take those 2 skipped payments and pay off another debt, put in savings or do whatever you please with.
There is no appraisal needed on a VA IRRRL. By not having to do an appraisal you don’t have to worry about what the value on your property is, you don’t have to worry about that added expense, and you don’t have to deal with the delayed time that it would take to get an appraisal completed.
While doing an IRRRL you can go through and waive your taxes and insurance. Instead of keeping that money in an escrow account, you can put it in your own bank account and make your own interest on it. It’s not for everyone, but if you are making 4% interest on a Money Market account, why not pay the liability yourself?
Your Treasure Valley VA Home Loan Team
On an IRRRL you can receive a refund on your current escrow account. Whatever you have in taxes/insurance in your escrow account will get refunded back to you. You can use these funds to put in savings or pay off additional debt.
There is no out-of-pocket expense on a VA IRRRL. No processing fee, no appraisal fee, and no other costs from you at closing. Any costs to complete the loan or payments you’re missing are financed right back into the loan. There are no funds that you have to bring into closing.
The obvious reason to go through and do an IRRRL is to lower your house payment. By lowering your interest rate by at least 0.5%, your overall monthly payment will also drop. This is the main benefit that the VA allows us to go through and do this. It lowers the overall monthly burden.