VA Streamline Refinance (IRRRL) Loans

VA Streamline refinance rates

Photo courtesy US Army

Veterans of the United States Armed Forces who currently have a VA home loan may be able to lower their interest rate and monthly mortgage payment with a VA streamline refinance, also called an Interest Rate Reduction Refinancing Loan (IRRRL).

This is a unique refinance program offered only to current holders of VA home loans.

Here are the biggest benefits to a VA streamline loan:

  • No appraisal required.
  • You may qualify even if you owe more than your home is worth
  • The VA requires no income documentation.
  • The VA requires no checking or savings account documentation.
  • The funding fee is reduced to 0.50% of the loan amount.
  • Typically you don’t need a COE to qualify.

Check VA streamline refinance rates here.

No Money Out of Pocket

In addition to these great benefits, the VA streamline can usually be completed with no money out of your pocket.

The VA-approved lender can structure your loan to roll in all reasonable closing costs into the new loan amount. That means that you don’t have to have any cash saved up to complete the refinance. 

Check VA refinance closing costs.

Get Multiple Quotes

Here at, we match you to up to four lenders who will give you rate quotes. Compare all of the quotes to see which one is best and which lender is most responsive. Keep in mind that you’re never obligated to go through with a refinance of any kind if you don’t think it will benefit you. You’re the boss when it comes to this decision!

If you are getting close to deciding on which lender you will refinance with, keep in mind that any VA-approved lender can issue you a VA IRRRL. Keep that in mind if a lender tells you they are the only ones who can do your loan.

Get quotes from up to four lenders here.

Reduced VA Funding Fee for VA Streamline Loans

The VA streamline refinance requires a funding fee of only 0.50% of the loan amount. Compare that to the 2.15% – 3.3% require for purchase and cash out VA loans.

The funding fee may be paid in cash or added to the total amount of the loan. Home owners who refinance with an IRRRL may not receive any cash as a result of closing a refinance on their property. This program is strictly to reduce your interest rate and monthly payment.

Check today’s VA streamline interest rates.

Take Advantage of this Benefit.

If you are a member of the Armed Forces and currently have a VA loan, take advantage of low interest rates and affordable lending fees. You can potentially save a lot of money each month with a VA streamline refinance. Speak to a mortgage professional today.

Apply for a VA streamline here.