VA Interest Rate Reduction Refinance (IRRRL) Loan

If you have an existing VA loan, the Interest Rate Reduction Refinance Loan (IRRRL)—also known as the VA Streamline—makes it simple to reduce your interest rate and monthly payment without the paperwork and hassle of a traditional refinance.

• No appraisal required
• No income verification
• No out-of-pocket costs (can roll fees into the new loan)
• Fast and easy process

• Must have an existing VA loan
• Must be current on your mortgage payments
• Must demonstrate a net tangible benefit (lower rate or improved terms)

• You can reuse your entitlement
• You don’t have to occupy the home as your primary residence (if you once did)
• Lower interest rates can free up cash flow for other needs

If you're a veteran with a VA loan and interest rates have dropped, this may be the easiest way to lower your payment—no appraisal, no fuss.