VA Loans & IRRRL
100% financing for eligible active-duty military, veterans, and surviving spouses with zero down payment, zero monthly mortgage insurance, and streamlined IRRRL refinances.
Underwriting Specifications & Parameters
Program Highlights & Selling Points
- Zero Down Payment Required
- No Monthly Mortgage Insurance (PMI)
- VA IRRRL Streamline Refinance with No Appraisal
- Residual Income Guidelines Accepted
Program Overview & Guidelines
Honoring Military Service with Premier Government Execution
The Corva Wholesale VA Loan Program delivers 100% financing with zero down payment for eligible active-duty military personnel, military veterans, and qualifying surviving spouses. Featuring zero monthly mortgage insurance (PMI) and streamlined IRRRL streamline refinances, Corva provides veterans with institutional pricing and priority underwrite queues.
Program Features & Terms
- Maximum LTV: 100% financing with zero down payment required for purchase transactions.
- Minimum FICO: 580 minimum credit score.
- Loan Limits: No maximum loan limit for veterans with full VA entitlement.
- Monthly Mortgage Insurance: Zero monthly mortgage insurance (PMI / MIP).
- Seller Concessions: Up to 4% seller concessions permitted toward closing costs, prepaid items, and debt payoffs.
VA IRRRL Streamline Refinance
For existing VA borrowers seeking lower interest rates or payment relief, the VA Interest Rate Reduction Refinance Loan (IRRRL) requires:
- No property appraisal required (AVM or automated waiver accepted).
- No income verification or debt-to-income calculation.
- Demonstrated net tangible benefit with recoupment of all closing costs within 36 months.
VA Funding Fee & Exemptions
The VA Funding Fee may be financed directly into the loan amount. Borrowers with service-connected disabilities verified on their VA Certificate of Eligibility (COE) are completely exempt from funding fees.
Submit VA Loans & IRRRL Scenario
Direct credit desk review by dedicated wholesale underwriters. Submit transaction parameters below for immediate pricing, structuring, and written terms.