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.
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.