VA – Discount Points on an IRRRL: Does VA require an appraisal when any discount points are being charged on an IRRRL? VA Refinance Comparison Chart
Answer: VA only requires an appraisal on an IRRRL when a fixed rate is refinanced to an ARM rate and the 2% reduction in rate was produced solely from discount points. (See the details below.) Reference: VA Guidelines â Chapter 4 Fixed to ARM: New rate must be 2% lower and the new rate canât be [...]