Has any military used the IRRL for refinancing and how was it, and what lending company did you use.

My husband and I refinanced using a VA IRRL in November 2010 and we were able to knock 2.25% off our interest rate (our mortgage was reduced by ~$300). We were happy with our original lender (Suntrust) so we went with them. It was very straightforward.

My husband and I refinanced using a VA IRRL in November 2010 and we were able to knock 2.25% off our interest rate (our mortgage was reduced by ~$300). We were happy with our original lender (Suntrust) so we went with them. It was very straightforward.

Fixed rate and were any huge fees envolved? If you can remember.

Fixed rate and were any huge fees envolved? If you can remember.
Yes, we have a fixed rate. You'll be charged a VA funding fee just like with your original mortgage but we didn't encounter any exorbitant fees. Our actual closing costs ended up being about 50% less than our Good Faith Estimate, which was a happy surprise. Our mortgage gal and attorney were great (we used them both when we initially purchased the house) so it was a quick and painless process.

Yes, we have a fixed rate. You'll be charged a VA funding fee just like with your original mortgage but we didn't encounter any exorbitant fees. Our actual closing costs ended up being about 50% less than our Good Faith Estimate, which was a happy surprise. Our mortgage gal and attorney were great (we used them both when we initially purchased the house) so it was a quick and painless process.

Thanks for the info.