Veterans Education Center

Explore More Topics…

VA Refinance

The VA Interest Rate Reduction Refinance Loan (IRRRL) lowers your interest rate by refinancing your existing VA home loan.  (Please note that lower documentation loan programs may require higher interest rates, points or fees.)  By obtaining a lower interest rate, your monthly mortgage payment should decrease. You can also refinance an adjustable rate mortgage (ARM) into a fixed rate mortgage.  

IRRRL Facts

  • No appraisal or credit underwriting package is required when applying for an IRRRL.
  • An IRRRL may be done with "no money out of pocket" by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.
  • When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase.
  • You may NOT receive any cash from the loan proceeds.

Apply for a Loan Now!