Updated January 2017
VA IRRL: Interest Rate Reduction Loan
The VA IRRL program can also be referred to as the Interest Rate Reduction Loan program. It can sometimes be referred to as the VA IRRL program and also sometimes called the VA streamline refinance program.
The truth of the matter is that the VA IRRL program doesn’t really exist – it is officially called the VA IRRRL program (notice the “extra” R) and stands for the Interest Rate Reduction Refinance Loan.
IRRL or IRRRL: It Doesn’t Matter
Whether you call it the VA IRRL or the VA IRRRL program, it doesn’t matter really – they both refer to the mortgage refinance program that is designed to help Veterans lower their monthly mortgage payment by refinancing their VA loan into a VA loan that has a lower interest rate.
So if you are a Veteran and you currently have a VA loan that is at a higher-than-market interest rate, chances are that you can save money each month on your monthly mortgage payment by participating in the VA IRRL / VA IRRRL refinance program. If you are a Veteran and you currently have a VA loan, chances are good that you can qualify for the VA IRRL refinance program.
Start the VA IRRL refinance process now by filling out the form below!