If you closed your VA loan when rates were above 6%, you may be eligible for a streamlined rate reduction — no appraisal, no income verification, and a close in as few as 30 days.
The Interest Rate Reduction Refinance Loan (IRRRL) is a VA-specific program designed to make rate drops fast and simple.
If you cannot act right now because of the 210-day requirement, you are not stuck. You are in the queue.
Count 210 days from your first mortgage payment date. If you have made at least 6 payments by that point, you are eligible. We can get your file prepped beforehand so you are ready to close the day the window opens.
No appraisal ordered. No income documents requested. The veteran submitted a single application, signed closing docs electronically, and the payment dropped the following month.
This is a hypothetical illustration. Actual rates, savings, and timelines depend on individual loan details and market conditions.
Any veteran with an existing VA loan who has made at least 6 monthly payments and is at least 210 days past the first payment date. You must be current on your mortgage with no more than one 30-day late payment in the past 12 months.
Typically 30-45 days. Because no appraisal or income verification is required, the process moves faster than a standard refinance.
Closing costs are generally lower than a full refinance — typically $2,000-$5,000 depending on the loan amount. The VA funding fee is 0.5% of the loan amount but is waived for veterans with a disability rating. Costs can be rolled into the loan.
The IRRRL only lowers your rate and payment on an existing VA loan. You cannot pull equity. A VA cash-out refinance replaces your loan with a new, larger one and gives you the difference in cash — useful for debt consolidation or other needs.
Start with the brief to see your recommendation, or schedule a call to review your numbers directly.
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