VA IRRRL
Streamlined Refinancing
Lower your VA loan interest rate with the Interest Rate Reduction Refinance Loan (IRRRL). Streamlined refinancing designed specifically for veterans with minimal documentation required.
Benefits of VA IRRRL
The VA Interest Rate Reduction Refinance Loan offers unique benefits designed specifically for veterans and active military personnel.
Minimal Documentation
No income verification, employment verification, or credit check required in most cases.
No Appraisal Needed
Skip the home appraisal process entirely, saving time and money on your refinance.
No PMI Required
VA loans never require private mortgage insurance, keeping your payments lower.
Faster Processing
Streamlined process typically takes 2-3 weeks, much faster than conventional refinancing.
VA IRRRL Eligibility Requirements
The VA IRRRL program has specific eligibility requirements designed to help veterans lower their mortgage rates.
Current VA Loan
Must currently have a VA loan on the property you want to refinance. VA IRRRL is only available for existing VA loans.
Rate Reduction
New interest rate must be lower than your current VA loan rate. There's no specific minimum reduction amount required.
Timing Requirements
Must have made at least 6 payments on your current VA loan before you can apply for a VA IRRRL refinance.
Property Occupancy
Property must be your primary residence or you must have lived there previously. VA IRRRL cannot be used for investment properties.
Who Should Consider VA IRRRL
VA IRRRL is perfect for veterans who want to take advantage of lower interest rates with minimal hassle.
Veterans with existing VA loans
Must currently have a VA loan on the property you want to refinance.
Those with rates above current market rates
If your current VA loan rate is higher than current market rates, you could save significantly.
Veterans wanting a fast, simple process
VA IRRRL offers the fastest, most streamlined refinancing process available.
How VA IRRRL Works
Simple Application
Complete a streamlined application with minimal documentation required. No income verification or employment check needed.
No Appraisal Required
Skip the home appraisal process entirely, saving you time and money while speeding up the refinance.
Fast Underwriting
Streamlined underwriting process focuses on rate reduction verification rather than extensive financial review.
Quick Closing
Close in as little as 2-3 weeks and start enjoying your lower monthly payment immediately.
VA IRRRL vs. Conventional Refinance
See how the VA IRRRL program compares to traditional refinancing for veterans.
VA IRRRL
- No appraisal required
- No income verification
- No employment verification
- No credit check (in most cases)
- 2-3 week processing time
- No PMI required
Conventional Refinance
- Appraisal required
- Full income verification
- Employment verification
- Credit check required
- 30-45 day processing time
- PMI required if LTV > 80%
💡 Frequently Asked Questions
The new interest rate must be lower than your current VA loan rate. There's no specific minimum reduction amount, but the rate must be genuinely lower to qualify.
No, VA IRRRL is specifically for rate and term refinancing only. If you need cash out, you would need to use a VA cash-out refinance instead.
VA IRRRL typically takes 2-3 weeks from application to closing, much faster than conventional refinancing due to the streamlined documentation requirements.
No, VA IRRRL is only available for existing VA loans. If you have a conventional loan, you would need to use a VA cash-out refinance to convert to a VA loan.
Ready to lower your VA loan rate?
Get a custom quote today — see how much you could save with a VA IRRRL refinance.