VA issues more Interest Rate Reduction Refinance Loans in Mississippi in Q2 vs. Q1 2019


The VA issued 38 Interest Rate Reduction Refinance Loans in Mississippi during the second quarter of fiscal year 2019, totaling $7.5 million, compared to six loans totaling $836,892 the previous quarter, according to figures provided by the Veterans Affairs Home Loans Index.

The VA assists service members, veterans and eligible surviving spouses to achieve homeownership through loans provided by banks and mortgage companies.

A portion of the loan is guaranteed by the VA, which allows the lender to provide better rates.

A number of VA housing programs can help members buy, build or repair their homes. Loan types may include Purchase Loans, Interest Rate Reduction Refinance Loans (IRRRL), and Adapted Housing Grants, which are geared toward veterans with a service-connected disability.

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