An IRRRL refinances an existing VA loan into a new one with less paperwork than a standard refinance. VA sets specific requirements around net tangible benefit and recoupment of costs, which govern whether the transaction is permitted at all.
Interest Rate Reduction Refinance Loan
What it is for
The VA streamline refinance. Reduced documentation, no new appraisal in most cases, and a lower funding fee than a purchase loan.
Form number
Phone
877-827-3702
Not affiliated with or endorsed by the U.S. Department of Veterans Affairs. Always confirm details on the official page linked above.