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Lender Alerts

Lender Alerts

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Reminder on VA IRRRL loans

Dear Licensed Partner,

VA circular 26-18-1 provides guidance on IRRRL disclosures.

Broker 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 interest rate and monthly payments for the new loan versus the old loans
  • Time taken to recoup ALL closing costs including those paid outside of closing

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).

For additional questions, please email Sun West's underwriting hotline at or call our hotline number (800) 241-7113.

Sun West Mortgage Company, Inc.

18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884

SW-1: Our No Overlays Program

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.

Equal Housing Opportunity