The VA IRRRL is designed exclusively for Veterans to lower rates without the red tape. No appraisal. No income verification. Just savings.
Improve My LoanFile Reference # Required for Priority Processing
Because there is no appraisal required, most IRRRLs close in half the time of a standard refinance.
Closing costs are typically rolled into the new loan, meaning no cash is required from you at closing.
We use your original VA loan eligibility. No new Certificate of Eligibility or income docs required.
One of the biggest hurdles in refinancing is the home appraisal. With the VA IRRRL (Interest Rate Reduction Refinance Loan), the VA allows us to use your original value.
This means your current home value—whether it has gone up or down—does not affect your ability to secure a lower rate.
Check My EligibilityWhen you pay off your old loan, your previous lender is required to refund your escrow balance to you.
This is your money. Upon activation of your new lower rate, you will receive a check for your existing escrow funds (taxes and insurance) typically within 30 days of closing.
We set up a brand new escrow account for your new loan, so you start fresh.
Start My ApplicationWhy are Veterans switching to the IRRRL program right now?
Avg. Monthly Savings
Payments You Can Skip [cite: 65]
Appraisals Required [cite: 64]
The process is simple. Because you already have a VA loan, the hard work is done.
Generally, no. For most VA Streamline (IRRRL) transactions, no income documentation or W2s are required because you have already proven your ability to repay the loan on your current mortgage.
No. The IRRRL is strictly for lowering your rate or changing your term (e.g., ARM to Fixed). If you need cash out for debt consolidation or home improvements, we can help you with a standard VA Cash-Out Refinance. Apply here to discuss options.
This refers to the gap between when your old loan is paid off and your new first payment is due. For example, if you close in April, your first payment might not be due until June. Interest still accrues during this time and is part of the payoff, but it gives you a break from writing a check for up to two months[cite: 65].
Yes, the VA charges a funding fee (usually 0.5% for IRRRLs), but this fee can be financed into the loan amount so you do not have to pay it out of pocket[cite: 43]. If you have a service-connected disability, you may be exempt from this fee.
Join the thousands of Veterans who have streamlined their mortgage.
Improve My Loan