Bank of America VA IRRRL Refinance Program

December 4, 2010

Have you received something that says there is a “special” Bank of America VA IRRRL refinance program and are looking for more information?

Good news – the VA IRRRL refinance program is probably the best VA refinance program available if you currently have a VA loan and want to get a lower interest rate.

Even better news – the program is not something that you can only get at Bank of America.

In fact, it is a very, very good idea to shop VA lenders who can give you a quote of what exactly the closing costs will be with a VA IRRRL loan as well as what the interest rate is. Obviously, the lower the interest rate and fees, the better “deal” it is for the Veteran.

Bank of America VA IRRRL Refinance

The reason that many Veterans may think that the VA IRRRL program is something that is specific to Bank of America is that they do a good job of marketing the program – and since many Veterans are not familiar with the program (maybe it is due to the funny name!) they just assume that it is only available at Bank of America.

But it isn’t!

So be sure to shop among at least a small handful of lenders to get the best rate and fees associated with your IRRRL refinance. Chances are that you will be surprised by the differences in what you see as far as getting the “best deal” from various lenders.