Home Refinance

VA Interest Rate Reduction Refinance Loan (VA IRRRL)

One of the most overlooked benefits of the VA Loan is the ability to refinance using a VA IRRRL.

A VA IRRRL is one of the top refinance options available! Often called a “streamline” refinance for a reason, it offers huge benefits with very simple steps and few downsides.

A VA streamline refinance is best if you already have a VA loan, you’re hoping to get a lower interest rate to save money, and you don’t want to take cash out from your home equity.

VA IRRRL Eligibility

To take advantage of a VA IRRRL, you must meet the following requirements:

• You already have a VA-backed home loan, and
• You’re using the IRRRL to refinance your existing VA-backed home loan, and
• You can certify that you currently live in or used to live in the home covered by the loan

Check your refinance eligibility instantly >

VA Backed Cash-Out Refinance

A VA backed cash-out refinance allows you to replace your current VA loan with a new one under different terms.

Eligible borrowers can use a VA cash-out refinance to access the equity they have in their home. You can use this cash to make improvements on your home, pay off other debts, eliminate school loans, etc.

VA Cash-Out Refinance Eligibility

To take advantage of a cash-out refinance, you must meet the following requirements:

• You qualify for a VA-backed home loan Certificate of Eligibility, and
• You meet VA’s—and your lender’s—standards for credit, income, and any other requirements, and
• You’ll live in the home you’re refinancing with the loan