VA circular 26-18-1 provides guidance on IRRRL disclosures.
Correspondent must provide Veteran’s Statement acknowledging the effect of the refinancing loan on the veteran’s loan payments and interest rate.
The statement must have the following
The above document shall be provided to the veteran within 3 days of application.
Closing cost for months to recoup calculation must include fees disclosed in Loan Estimate (LE) Sections (sum of LE sections A, B, C, E, H, and VA funding fee and deduct any lender credit listed in section J of Loan Estimate).
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This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.