VA IRRRL Refinance

An Interest Rate Reduction Refinance Loan, also known as an IRRRL or VA streamline, is a quick way to refinance existing VA loans to a lower rate or convert from adjustable to fixed-rate financing with fewer requirements than a VA Cash-Out refinance. With today’s low mortgage interest rates, you could lower your monthly payments, saving you thousands each year.

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Research Your Options Before Taking the Next Step

Secure a lower interest rate, lower your monthly mortgage payment, or both.

If you already have a VA-backed home loan and want to lower your monthly mortgage payments, an interest rate reduction refinance loan (IRRRL) may be perfect for you. An IRRRL is one of the easiest loan products to apply and qualify for and comes with relaxed requirements compared to traditional mortgages. Refinancing allows you to replace your current loan with a new one under new terms, making your existing mortgage more affordable.

Already have a VA-backed home loan, and

Are using the IRRRL to refinance your existing VA-backed home loan, and

Can certify you currently live in or used to live in the home covered by the loan

The Fast Lane to an IRRRL

An IRRRL is a quick streamlined process to refinance your VA loan to take advantage of lower interest rates or to shorten the repayment period.
  • 01. Find a Lender

    Terms and fees may vary, so contact several lenders to check out your options!

  • 02. Provide Your COE

    The Certificate of Eligibility (COE) you used to get your original VA-backed loan will be required to show prior use of your entitlement. If you don’t have your original, we have multiple ways for you to obtain a copy.

  • 03. Process for Closing

    Follow VeteransLoans.com's process for closing on the IRRRL loan, and pay your closing costs. This may include a VA funding fee. Closing costs can be rolled into your new loan so you don’t have to pay up front.

Pros

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Closing costs and funding fee can be rolled in

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No requirements for credit score or income in most cases

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Designed to reduce your interest rate and monthly payment

Cons

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Only available if you already have a VA loan

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Only available through certain lenders

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No cash-out options available

Save Time

No appraisal needed in most cases

Arm to Fixed

Stabilize your monthly mortgage payments

Easy Requirements

No requirements to occupy the residence

Save Money

No requirements for out-of-pocket costs


Ready to Get Started?

It only takes minutes to check your VA Loan Eligibility! No Obligations.
What Are You Looking To Do?

Where is your home located?

What is your current home value?

How much do you currently owe?

Are you looking to take cash out?

What is your current credit score?

What is your current employment status?

What is your current mortgage rate?

What is your current zip code?

Only 3 questions left!

What is your email address?

(Please enter a valid email address e.g. email@example.com)

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Where will your new home be located?

What is your purchase price?

An estimate is fine.

When are you planning to purchase?

What is your current credit score?

What is your current employment status?

What is your current zip code?

Only 3 questions left!

What is your email address?

(Please enter a valid email address e.g. email@example.com)

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What is your name?

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What is your phone number?

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