VA IRRRL Primary Residence vs Investment Property Rates
Hi BP, I had a question. I am looking into refinancing a home I am currently renting out. It was bought a few years back when I was stationed there and was my primary residence.
My current tenants are moving out in a few months and I have the opportunity to get orders back to this base and live back in the house.
It seems like a no brainer to do a IRRRL (old rate was 4%) as a primary residence. BUT, as with all things in the military, things are unpredictable especially with the COVID stop movement on PCS's, so I dont want to do a refinance as a primary residence then end up being unable to fulfill occupancy requirements if I dont get picked up for those orders.
Anyways, anyone know how investment property rates foe a VA IRRRL are looking and whether lenders are even closing on them? Thanks!