VA Interest Rate Reduction Refinance Loans

What is a VA Interest Rate Reduction Refinance Loan?


If you already have a VA loan, a VA Interest Rate Reduction Refinance Loan (IRRRL) — also known as a VA Streamline Refinance — can help you benefit from a lower interest rate and monthly payments.


What Are The Benefits?

  • No appraisal or credit underwriting package is required.
  • You can include the costs of getting an IRRRL in the new loan.
  • You can refinance an existing VA ARM into a fixed rate VA loan.
  • You can reduce a 30-year mortgage into a 15-year mortgage to pay it off sooner.

What Do I Need To Be Eligible?


While a Certificate of Eligibility is required for a VA loan, it is not required to obtain a VA IRRRL. However, you should still provide it to us to show that you previously used your VA entitlement. Note that you cannot use the funds from your IRRRL to pay another non-VA mortgage. If you have a second mortgage, that loan must be subordinated so that your VA loan is your first mortgage.