I just closed yesterday on a VA Interest Rate Reduction Refinance Loan (IRRRL), AKA the VA "streamline," with Dave Devine and NBofKC. I would recommend Dave and NBofKC to anyone who is looking to refinance. We dropped to a 3.25% 30-yr fixed VA loan from a higher rate 30-yr loan. Dave secured a $4,200 lender credit with estimated fees of $3,070. Ultimately, the fees wound up ~$3377 (limited by the "may increase 10%" part of the HUD-1). Thus, the lender credit paid for all out-of-pocket fees and $823 of our 1Q property taxes. We elected to pay the remaining ~$680 in 1Q property tax and ~$800 in initial escrow out of pocket. We will be getting ~$1,470 back from our current escrow account. Also, we will be skipping the January 2013 payment (~$1,750 PITI).
This brings our total cash outlay to -$1,740 out of pocket...also known as $1,740 that will stay in our bank account while we enjoy a monthly reduction of approximately $230 in interest charges.
Overall, it was a great experience.