HomeBridge is pleased to announce we are expanding our VA IRRRL program to allow the refinance of a loan with ≤ 6 months payments.
Effective Wednesday, January 25, 2017 loans with ≤ 6 months seasoning will be eligible subject to the following:
- Eligible with 30 year fixed rate term only (< 30 year term and ARMs ineligible)
- Pricing adjustor will apply; refer to the HomeBridge rate sheet for details
Brokers have the option to have impacted transactions re-underwritten if ≤ 6 months seasoning and the broker would like the transaction to close with a 30 year fixed term with the pricing adjustor.
Brokers also have the option to have transactions underwritten subject to 6 months payments being made. Requests for restructuring should be communicated to your Account Manager.
The HomeBridge rate sheet will be updated to include the pricing adjustor and the IRRRL program guidelines will be updated and posted to the HomeBridge website at www.homebridgewholesale.com
If you have any questions, please contact your Account Executive.