What Is a VA IRRRL?
If you have a VA loan and rates have dropped since you closed, the VA Interest Rate Reduction Refinance Loan (IRRRL) — often called a VA Streamline Refinance — is the fastest, cheapest way to lower your payment. No appraisal in most cases. No income verification. Most IRRRLs close in 2–3 weeks.
VA IRRRL Requirements
- You currently have a VA loan
- The refinance lowers your rate or payment (or converts an ARM to a fixed rate)
- You have made at least 6 consecutive on-time payments and 210 days have passed since your first payment
- You certify you previously occupied the home (you do not have to live there now)
What You Skip With an IRRRL
- No appraisal required in most cases
- No income or employment verification
- No minimum credit score set by the VA (lender overlays may apply)
- Reduced funding fee: 0.5% vs. up to 3.3% on a standard VA loan — and it can be rolled into the loan
IRRRL vs. VA Cash-Out Refinance
| IRRRL | VA Cash-Out | |
|---|---|---|
| Purpose | Lower rate/payment | Take equity as cash |
| Appraisal | Usually not required | Required |
| Income docs | Not required | Required |
| Funding fee | 0.5% | 2.15%–3.3% |
| Speed | 2–3 weeks | 30–45 days |
How It Works With Us
- 5-minute eligibility check — no obligation
- E-sign your docs — we handle the VA paperwork
- Close in 2–3 weeks — and skip up to two payments in many cases
New to VA loans? See our VA home loan page for purchase options.
See If You Qualify for a VA IRRRL
VA IRRRL Frequently Asked Questions
How much can a VA IRRRL lower my payment?
It depends on your current rate, balance, and how long you plan to stay in the home. Because the VA requires a “net tangible benefit,” the refinance has to put you in a better position — usually a lower rate and payment, or a move from an adjustable to a fixed rate. Tell us about your current loan and we’ll show you whether an IRRRL makes sense.
Can I do an IRRRL with no closing costs?
Yes — costs can be rolled into the loan balance or offset with a lender credit, so most borrowers pay nothing out of pocket.
Does an IRRRL require an appraisal?
In most cases, no. That is one of the biggest advantages over a conventional refinance.
How soon can I use an IRRRL after closing my VA loan?
After 6 consecutive on-time payments and at least 210 days from your first payment due date.
Can I take cash out with an IRRRL?
No. The IRRRL is rate-and-term only. If you want cash from your equity, ask us about a VA cash-out refinance.
