VA Streamline Refinances (IRRRL – Interest Rate Reduction Refinance Loan) after a death, divorce or marriage.
The general rule of thumb is that the eligible Veteran must remain on the loan. It’s the entitlement of the Veteran that makes the VA loan possible.
1. Can the divorced Veteran remove a former spouse with an IRRRL? Yes.
2. Can a divorced and re-married Veteran remove the former spouse and add the new spouse with an IRRRL? Yes.
3. Can an eligible Veteran refinance the mortgage into their own name with an IRRRL, substituting their entitlement, even though another Veteran originally purchased the home (When both divorcing spouses are veterans with a VA entitlement)? Yes.
4. Can a Veteran remove a non-spouse with whom he or she originally purchased the house using an IRRRL? Yes.
5. Can a divorced spouse of the eligible Veteran use an IRRRL to refinance? No.
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