VA IRRRL

The VA Interest Rate Reduction Refinance Loan (IRRRL) lowers your interest rate by refinancing your existing VA home loan. 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.
Advantages of a VA IRRRL
  • No appraisal required
  • No income required
  • No money out of pocket
  • Lowering your monthly payment
  • Reducing your interest rate
  • Securing a fixed-rate mortgage that won’t change over time