Updated January 2017
The IRRRL program is a popular VA refinance program for Veterans who currently have a VA loan. If you are a veteran with an existing VA mortgage, you may qualify for this VA refinance program – which stands for Interest Rate Reduction Refinance Loan.
The IRRRL program is also sometimes commonly referred to as the VA streamline refinance loan and is provided by VA approved IRRRL lenders. Keep in mind, IRRRL rates and guidelines will vary by lender, so it is important to do your research before you choose a lender.
With the IRRRL program, you can refinance your existing VA mortgage without having to completely re-qualify and you can lower your current interest rate to the market rates of today.
Submit your information below to get matched up with a great VA approved lender who can help you get a free IRRRL rate quote.
The VA streamline refinance program is also known as the VA IRRRL Program. It stands for Interest Rate Reduction Refinance Loan.
Used Exclusively with VA Loans
The VA IRRRL is reserved to be used exclusively for those with VA home loans. We take great pride in assisting those who have served and have developed a very smooth and easy process to help you save money. Fill out the form to get started.
Commitment to Service
IRRRL.com utilizes extensive VA experience to help you save money on your home loan. We offer simple and effective options to help you find the best rate and save as much as possible.
Apply now for a VA IRRRL Loan
Apply now and refinance your home mortgage to a lower interest rate. Start saving now with the help of our VA loan experts.
Popular VA IRRRL Information
Some of the more popular topics related to the IRRRL program include:
- How do I find a VA lender who can help me with the IRRRL refinance?
- What is a funding fee?
- How do I calculate my VA entitlement?
IRRRL Refinancing: Quick Facts About The IRRRL Program
- The IRRRL is a simple process compared to the original VA mortgage loan. Most of the time, the lender is able to close automatically.
- The VA does not require an appraisal, credit information, or underwriting, but your VA approved lender may require these.
- You can roll all closing costs and fees into the new loan so there are no out-of-pocket charges to you.
- The monthly payment for the IRRRL must be lower than the previous loan’s monthly payment, unless you are refinancing an adjustable rate mortgage or the new loan term is less than the old one.
- The IRRRL must be at a lower interest rate than the previous loan. The exception is if you are refinancing from an adjustable rate loan. The reason you might want a higher, fixed rate loan is that your adjustable rate loan’s interest rate will eventually increase.
- An IRRRL can be a fixed rate or adjustable rate loan.
- Energy efficient improvements can be refinanced into your IRRRL, up to $6,000.
- Your monthly mortgage payment may increase if you finance energy efficient home improvements, finance your closing costs including the funding fees, finance points, or get a higher interest rate if you move to a fixed rate loan.
- You cannot receive any cash out at closing with an IRRRL.
- You must be current on your existing VA mortgage and not have had more than one 30-day late mortgage payment within the past 12 months.
IRRRL Lenders: What You Want To Know
When it comes to finding the “right” VA refinance lender, the first thing to know is that not every VA approved lender has the same guidelines for the IRRRL program. Each lender may have different requirements regarding credit scores, appraisals or other things that may apply to your situation. Because of this, it is important that you speak with multiple VA approved lenders who can help get you a written rate quote so that you can lay them all out and compare. You want to be sure that you pick the right lender for your particular situation – and you might also be surprised to learn how much money you can probably save just by shopping a few lenders.
Ready to get started? Submit your information below and we will match you with a great VA approved lender who can give you a written rate quote on an IRRRL refinance.
For many Veterans who currently have VA loans, they are aware that the VA IRRRL refinance program is designed to let them take advantage of lower rates when they are available with an as-easy-as-possible refinancing program. The most popular question that many of these Veterans have on an ongoing basis is:
IRRRL Rates: What are the VA refinance rates today?
Because IRRRL rates change multiple times each day and can vary widely from VA lender to VA lender, the most accurate way to determine rates is to get a personalized quote from a VA-approved lender. To get started, just fill out your contact information below – it only takes a minute.
Alternatively, here’s a simple look at what some of the leading lenders are offering in today’s marketplace.
IRRRL Rates: Shop Around
Once you have a general idea of where VA refinance rates are currently, the next step is to shop around for the best VA lender who has the best IRRRL rates available. IRRRL rates vary from lender to lender and at a single lender, many times they vary from day to day.
IRRRL rate quotes should be free from VA lenders and after getting your information, they will provide you with a Good Faith Estimate of what exactly your IRRRL rate would be if you were to get an IRRRL loan done right then.
Get your free VA IRRRL rate quote today by completing the information below.