A VA Streamline Refinance, formally called an Interest Rate Reduction Refinance Loan or IRRRL, lets eligible homeowners replace an existing VA-backed mortgage with another VA-backed loan when the refinance meets VA benefit and seasoning rules. The process is often simpler than a purchase loan or VA cash-out refinance because VA generally does not require a new appraisal or a full credit-underwriting package for a standard, current IRRRL.
That does not mean every VA loan can be refinanced immediately or that every lower advertised rate is a good deal: the loan must pass statutory timing, net tangible benefit, and fee-recoupment tests, and lender overlays may add documentation. This 2026 guide explains the rules in the order they matter, from basic eligibility and payment history through rate reduction, closing costs, funding fee, break-even analysis, and closing.
Quick Answer: What Is a VA IRRRL and What Are the 2026 Requirements?
An IRRRL is a VA-to-VA refinance for an existing VA-backed mortgage. As of 2026, the loan being refinanced must satisfy both seasoning tests: at least six consecutive monthly payments must have been made, and the new refinance must close at least 210 days after the first payment due date on the existing loan. For fixed-rate to fixed-rate IRRRLs, the new rate must be at least 0.50 percentage points lower. For fixed-rate to adjustable-rate IRRRLs, the initial new rate must be at least 2.00 percentage points lower. When the new principal-and-interest payment is lower, certain refinance costs generally must be recouped within 36 months. The standard IRRRL funding fee is 0.50% unless the borrower qualifies for an exemption.
What Is a VA Streamline Refinance (IRRRL)?
A VA Interest Rate Reduction Refinance Loan is a refinance option for homeowners who already have a VA-backed mortgage on the property. The new IRRRL pays off that existing VA loan and replaces it with a new VA-backed loan under different terms.
The most common goal is to lower the mortgage interest rate and reduce the monthly principal-and-interest payment. An IRRRL can also make the payment more stable by refinancing an adjustable-rate VA mortgage into a fixed-rate VA mortgage, even when the new rate does not decrease in the same way a fixed-to-fixed refinance requires.
The streamlined label describes the VA program structure. It does not mean the lender skips federal disclosures, ignores payment history, or can refinance the loan without demonstrating the required financial benefit.
Security America Mortgage also provides a VA refinance calculator for comparing a current mortgage with a proposed VA refinance.
How Does a VA IRRRL Work?
The lender first confirms that the current mortgage is VA-backed, checks the loan seasoning and payment history, and compares the existing mortgage with the proposed IRRRL. The lender then applies the applicable net tangible benefit and recoupment rules before preparing the refinance for closing.
- 1. Verify the existing loan is VA-backed. IRRRL proceeds are used to refinance the current VA loan on the same property.
- 2. Confirm loan seasoning. Both the six-consecutive-payment test and the 210-day timing test must be satisfied by the closing date.
- 3. Compare old and new loan terms. The lender reviews rate, principal-and-interest payment, loan term, balance, costs, and the required VA benefit tests.
- 4. Determine what underwriting is required. A standard current IRRRL may not need full credit underwriting, but exceptions and lender overlays can add documentation.
- 5. Decide how closing costs will be paid. Permitted costs can be paid in cash, financed subject to VA rules, or offset through lender pricing.
- 6. Review disclosures and close. The refinance creates a new mortgage, so borrowers should review the full loan term and total cost rather than only the monthly payment.
Because several IRRRL rules interact, the cleanest application is one where the current mortgage statement, payment history, payoff information, homeowners insurance, and basic borrower information are available from the start.
VA IRRRL Rules That Matter in 2026
The core federal IRRRL protections remain focused on loan seasoning, net tangible benefit, fee recoupment, occupancy history, and limits on how refinance proceeds can be used. These are the rules that should be checked before discussing rate offers.
Existing VA Loan Requirement
An IRRRL can only refinance an existing VA-backed loan. It is not the refinance program for converting a conventional, FHA, USDA, or other non-VA mortgage into VA financing. Borrowers who need to refinance a non-VA loan generally need to evaluate VA cash-out refinance eligibility instead.
210-Day and Six-Consecutive-Payment Seasoning Rule
Federal law requires both seasoning conditions to be satisfied before VA can guarantee the IRRRL. First, the borrower must have made at least six consecutive monthly payments on the loan being refinanced. Second, the IRRRL closing date must be at least 210 days after the first payment due date of the existing loan.
The rule is not simply “wait 210 days” and it is not simply “make six payments.” Both conditions matter. If payment history was interrupted, modified, deferred, or otherwise unusual, the lender should verify how the current VA rules apply to the specific file before quoting an eligible closing date.
Net Tangible Benefit: Fixed Rate to Fixed Rate
For a fixed-rate VA loan refinanced into another fixed-rate VA loan, the new interest rate must be at least 0.50 percentage points lower than the rate being refinanced. A move from 6.75% to 6.25% meets the 50-basis-point rate-reduction threshold; a move from 6.75% to 6.50% does not.
Net Tangible Benefit: Fixed Rate to Adjustable Rate
For a fixed-rate VA loan refinanced into an adjustable-rate mortgage, the initial new rate must be at least 2.00 percentage points lower than the old fixed rate. Additional rules apply when the lower rate is created through financed discount points, including loan-to-value limitations that can require a property valuation.
ARM to Fixed Rate IRRRL
VA allows an IRRRL to move an existing VA adjustable-rate mortgage into a fixed-rate mortgage to make future payments more stable. In this situation, VA consumer guidance notes that the new interest rate can be higher than the old adjustable rate. The stability of the fixed rate can still be the central benefit, but affordability and total cost should be reviewed carefully.
36-Month Fee Recoupment Rule
When an IRRRL lowers the monthly principal-and-interest payment, the statutory fee-recoupment calculation generally requires the applicable fees, closing costs, and expenses to be recovered through the monthly savings within 36 months. The VA funding fee, taxes, escrow amounts, and certain prepaid expenses are excluded from this statutory recoupment calculation.
If the proposed IRRRL produces the same or a higher monthly principal-and-interest payment, VA policy applies a different cost test. This can matter when a borrower shortens the loan term or chooses a structure that improves stability rather than simply reducing the payment.
Prior Occupancy Requirement
IRRRL occupancy is more flexible than a VA purchase or cash-out refinance. The Veteran generally needs to certify that they previously occupied the property as their home. A homeowner who has since moved and converted the property to a rental may still be eligible for an IRRRL if the prior-occupancy requirement and other rules are met.
First-Lien and Second-Mortgage Rules
The new IRRRL must replace the existing VA loan as the first lien on the same property. If there is a second mortgage, the second-lien holder must agree to subordinate its lien so the new VA loan remains in first position. IRRRL proceeds cannot be used to pay off unrelated liens or consumer debts.
Maximum Loan Term
VA lender guidance limits the new IRRRL term to the original VA loan term plus 10 years, and the new term cannot exceed 30 years and 32 days. For example, a 15-year VA loan generally cannot be refinanced into a new 30-year IRRRL; the maximum term would ordinarily be 25 years.
No General Cash-Out
An IRRRL is not intended to withdraw home equity. The general rule is that the borrower does not receive cash proceeds from the refinance. Small incidental refunds can occur because of payoff or escrow adjustments, and VA has special rules for certain energy-efficiency reimbursements, but the loan is not a substitute for a VA cash-out refinance.
For the underlying federal program description, see the VA Interest Rate Reduction Refinance Loan page.
Do You Need an Appraisal for a VA IRRRL?
VA generally does not require a new appraisal for a standard IRRRL. That is one reason the program can be simpler than a VA purchase or cash-out refinance, where property valuation is ordinarily a major part of the transaction.
The no-appraisal rule is not an absolute promise that property value will never matter. A lender may impose its own risk-management requirement, and certain fixed-to-ARM IRRRLs that finance discount points can require a valuation to demonstrate the applicable loan-to-value limit. In those cases, the lender may use an acceptable valuation process rather than ordering a standard VA fee-panel appraisal.
Borrowers should therefore ask a precise question: “Does VA require an appraisal for my structure, and does your company require one as an overlay?” That separates the federal baseline from the lender’s own process.
Credit, Income, Employment, and Underwriting Requirements
A standard IRRRL is often described as requiring no income verification or credit underwriting, but the accurate rule is more specific. VA does not generally require a full credit-underwriting package on a normal current IRRRL, yet certain files do require underwriting and individual lenders can apply stricter overlays.
VA lender guidance specifically identifies two situations that trigger additional credit review: when the loan being refinanced is 30 days or more past due, and when the new monthly principal, interest, taxes, and insurance payment increases by 20% or more. A recent Chapter 13 bankruptcy can also require trustee approval depending on the case.
- Current, straightforward IRRRL. VA may not require full credit underwriting, although the lender can still verify information needed for its own program and investor requirements.
- Existing VA loan 30 or more days past due. VA prior approval is generally required and the lender must document the reason for delinquency, correction of the cause, and the borrower’s ability to qualify.
- New PITI increases 20% or more. The lender must determine that the borrower can support the higher payment.
- Lender overlay. A lender can require credit score, income documents, asset statements, or other information even when VA does not require a full package.
This is why “streamline” should be read as reduced VA documentation requirements, not a guarantee of approval without financial review. Security America Mortgage currently states a 640 minimum credit score for its VA refinance programs, which is a lender standard rather than a universal VA minimum.
VA Funding Fee for an IRRRL in 2026
For non-exempt borrowers, the VA funding fee on an IRRRL is 0.50% of the loan amount. Unlike purchase funding-fee rates, the IRRRL percentage does not change based on first versus subsequent use of the VA benefit.
The funding fee can generally be financed into the new loan, which reduces the need for cash at closing but increases the balance that accrues interest. Borrowers who qualify for a funding-fee exemption should make sure their status is correctly reflected before closing because the difference directly affects the new loan amount.
- Common exemption category: VA disability compensation. Veterans receiving VA compensation for a service-connected disability can qualify for a funding-fee exemption.
- Certain Veterans entitled to compensation. An exemption can also apply when a Veteran is entitled to VA disability compensation but receives retirement or active-duty pay instead.
- Certain surviving spouses. Qualifying surviving spouses receiving Dependency and Indemnity Compensation can be exempt.
- Certain pre-discharge claims and Purple Heart recipients. VA also provides exemptions in specified pre-discharge and active-duty Purple Heart situations.
You can estimate the fee with Security America Mortgage’s VA funding fee calculator and verify the final exemption status with the lender and VA record before closing.
What Closing Costs Can Be Included in an IRRRL?
IRRRL closing costs can often be handled more flexibly than purchase-loan closing costs. VA lender guidance allows the VA funding fee and allowable refinance fees and charges to be included in the new IRRRL balance, subject to program limits.
A borrower may also pay costs in cash, or the lender may price the loan at a higher interest rate and use lender credit to cover eligible costs. Financing costs avoids an upfront payment but increases the new principal balance, so the break-even period and long-term interest cost still need to be compared.
- VA funding fee. The standard 0.50% IRRRL funding fee can generally be paid at closing or financed, unless the borrower is exempt.
- Allowable lender and closing charges. Permitted fees can be included in the loan under VA refinance rules.
- Discount points. A borrower may pay reasonable discount points in cash, but only up to two discount points can be included in the IRRRL loan amount.
- Lender credit. The lender may offer a higher rate that generates enough credit to pay closing costs, as long as the IRRRL still satisfies the required benefit rules.
- Late payments on delinquent IRRRLs. When a delinquent VA loan qualifies for a prior-approval IRRRL, VA rules can allow certain late payments, late charges, and related permitted costs to be included.
For a broader explanation of VA fee rules, review Security America Mortgage’s 2026 VA allowable fees guide.
How the 36-Month IRRRL Break-Even Test Works
A lower interest rate is only useful if the savings justify the refinance costs. VA’s statutory recoupment rule protects borrowers from paying eligible transaction costs that take too long to recover through the lower monthly principal-and-interest payment.
For the statutory test, eligible fees and costs are divided by the reduction in monthly principal and interest. VA excludes the funding fee, taxes, escrow deposits, and certain prepaid items from this particular 36-month calculation. The lender also provides VA-required loan-comparison disclosures that show the old and new loan terms and a cost-recovery calculation.
- Step 1: Calculate the new monthly PI savings. Subtract the proposed IRRRL principal-and-interest payment from the existing principal-and-interest payment.
- Step 2: Identify costs included in the statutory recoupment calculation. Use the lender’s VA calculation rather than simply adding every number from the Closing Disclosure.
- Step 3: Divide applicable costs by monthly PI savings. The result is the number of months needed to recover those costs.
- Step 4: Compare the result with the 36-month limit and your own time horizon. Passing the VA test does not mean the refinance is worthwhile if you expect to sell or refinance again much sooner.
Consider a simplified example. Assume the proposed IRRRL lowers principal and interest by $200 per month and the fees included in the statutory recoupment test total $4,500. The basic recoupment period is 22.5 months, which is inside 36 months. Your personal decision should still consider the new term, financed balance, total interest, and how long you expect to keep the property.
| Comparison Point | Existing VA Loan | Proposed IRRRL |
|---|---|---|
| Interest rate | Current fixed rate | At least 0.50 percentage points lower for fixed-to-fixed IRRRL |
| Monthly principal and interest | Current PI payment | Lower proposed PI payment |
| Applicable recoupment costs | Not applicable | $4,500 illustrative amount |
| Monthly PI savings | Not applicable | $200 illustrative amount |
| Estimated recoupment period | Not applicable | 22.5 months in this example |
| Loan term | Remaining term on current loan | New term may restart or change amortization |
| Loan balance | Current payoff | May rise if permitted costs and funding fee are financed |
This comparison is intentionally simplified. The lender’s actual VA recoupment calculation and disclosures control the compliance test, while your personal break-even calculation can be broader and include the costs you will actually pay or finance.
Can You Refinance From a 30-Year VA Loan to a 15-Year Loan?
Yes, an IRRRL can shorten the repayment term when the structure satisfies VA requirements. A shorter term can reduce total interest and accelerate payoff, but it can also increase the monthly payment even when the interest rate is lower.
VA warns borrowers to look carefully at payment affordability when moving from a longer term to a shorter term. If the new PITI payment increases by 20% or more, additional underwriting is required. Also remember that VA’s maximum-term rule limits an IRRRL to the original term plus 10 years, up to a maximum of 30 years and 32 days.
Can You Use an IRRRL on a Home You No Longer Live In?
Potentially, yes. The IRRRL occupancy standard generally requires certification that you previously occupied the property as your home. That is different from the current-occupancy or intent-to-occupy rule used for many other VA loan types.
This can make an IRRRL available on a former primary residence that is now rented, provided the existing loan is VA-backed, the Veteran still owns the property, and all other IRRRL requirements are satisfied. The lender should confirm the ownership, obligor, and occupancy history before proceeding.
IRRRL vs. VA Cash-Out Refinance
An IRRRL and a VA cash-out refinance are both VA refinance products, but they solve different problems. The IRRRL is designed to refinance an existing VA mortgage with limited cash-out ability, while a VA cash-out refinance can replace a VA or non-VA mortgage and may allow the homeowner to access equity subject to current underwriting and value rules.
Before choosing, identify whether the goal is to improve the existing VA loan or to obtain equity. Trying to use an IRRRL for cash-out is the wrong structure and can create confusion about appraisal, underwriting, funding fee, and closing-cost rules.
- Choose an IRRRL when you already have a VA-backed loan and the main goal is a lower rate, lower payment, more stable payment, or an eligible term change.
- Consider VA cash-out refinance when you need to refinance a non-VA loan into VA financing or access home equity for other purposes.
- Compare total cost because the funding fee, appraisal, credit underwriting, equity rules, and closing process differ by refinance type.
Use the Security America Mortgage VA refinance calculator to compare the structure before requesting loan estimates.
Benefits of a VA Streamline Refinance
The IRRRL can be a strong refinance tool when the existing VA loan is seasoned and the proposed terms create a clear financial benefit. Its biggest advantages come from the combination of VA consumer protections and a more streamlined documentation process.
- Potentially lower interest rate and PI payment. Fixed-to-fixed transactions must meet the VA rate-reduction threshold, and the lower payment is subject to fee-recoupment rules.
- Payment stability. Borrowers can move from an adjustable-rate VA loan to a fixed-rate VA loan when the structure meets VA requirements.
- No standard VA appraisal requirement. Many IRRRLs avoid the appraisal process required by other mortgage transactions.
- Reduced VA underwriting requirements. A standard current IRRRL generally does not require the full underwriting package used for a purchase or cash-out refinance.
- Closing costs can often be financed. Eligible fees and the VA funding fee can generally be included in the new loan, which can reduce upfront cash needs.
- Prior occupancy is sufficient in many cases. The property does not always have to be the Veteran’s current primary residence if it was previously occupied as the home.
The benefit is strongest when the savings are meaningful, the recoupment period is comfortably inside the required limit, and the homeowner expects to keep the mortgage long enough to benefit from the new terms.
When an IRRRL May Not Be Worth It
A refinance that is technically eligible can still be a poor financial fit. The most common mistake is focusing on the new monthly payment without looking at the financed balance and how many years are being added back to the loan.
- You plan to move soon. If you expect to sell before your personal break-even point, the refinance costs may not produce enough savings.
- The rate improvement is small. A fixed-to-fixed IRRRL must meet the 0.50-point VA threshold, but a barely qualifying reduction may still produce modest dollar savings on a small balance.
- Financing costs materially increases the balance. A no-cash-at-closing structure can be convenient while still increasing total debt and lifetime interest.
- You restart a long term late in the mortgage. Moving a loan with relatively few years remaining back toward a longer amortization can reduce the payment while increasing lifetime interest.
- Your real goal is cash-out. An IRRRL is not intended for equity withdrawal; the correct comparison may be a VA cash-out refinance or another loan type.
- The payment increases beyond your comfort level. Shortening the term or changing rate structure can increase PITI and may trigger additional underwriting.
Ask the lender to show the old and new amortization, not just the first monthly payment. That makes it much easier to see whether the refinance improves both short-term cash flow and long-term cost.
How to Apply for a VA IRRRL
Start with the current mortgage, not with a promotional rate. The lender needs enough information to confirm VA status, seasoning, payment history, ownership, and the benefit of the proposed refinance.
Step 1: Review your current VA mortgage
Write down the current interest rate, principal balance, monthly principal and interest, remaining term, loan type, and first payment due date.
Step 2: Confirm seasoning
Verify that six consecutive monthly payments have been made and that the proposed closing date is at least 210 days after the first payment due date.
Step 3: Decide your refinance goal
Choose whether the goal is lower payment, lower rate, fixed-rate stability, a shorter payoff period, or a combination.
Step 4: Request a written IRRRL quote
Ask for interest rate, APR, points, lender credits, estimated new balance, term, PI payment, funding fee, total costs, and recoupment period.
Step 5: Compare at least two structures
A lower rate with points may not be better than a slightly higher rate with lender credit if you do not expect to keep the loan long enough.
Step 6: Submit lender-required documents
A streamlined refinance is not document-free. Provide mortgage statements, insurance, identification, and any credit, income, or asset documentation required by the file or lender.
Step 7: Review the VA loan comparison and federal disclosures
Make sure the stated benefit, payment, rate, balance, term, and cost-recovery figures match the structure you agreed to.
Step 8: Keep the old loan current through closing
Continue following the servicer’s payment instructions until the refinance payoff is completed and confirm the first payment date on the new loan.
When you are ready to compare terms, start a VA refinance application with Security America Mortgage.
Common VA IRRRL Mistakes to Avoid
Most IRRRL mistakes come from treating “streamline” as shorthand for “automatic approval” or “automatically a good deal.” The program is simpler in some areas, but it has strict protections that should be checked in sequence.
- Counting 210 days from the wrong date. The statutory test uses 210 days after the first payment due date of the loan being refinanced, not simply 210 days after the original closing date.
- Forgetting the six-consecutive-payment requirement. Both seasoning conditions must be met.
- Assuming any fixed-to-fixed rate drop qualifies. The new fixed rate must be at least 0.50 percentage points lower.
- Ignoring the 36-month recoupment test. A lower payment alone is not enough when eligible refinance costs take too long to recover.
- Treating “no appraisal” as an absolute rule. Certain structures or lender overlays can still require a valuation.
- Assuming no credit or income documents can ever be requested. Delinquency, a PITI increase of 20% or more, bankruptcy issues, investor standards, and lender overlays can all trigger additional review.
- Taking cash-out through an IRRRL. The program is not intended for general equity withdrawal.
- Financing costs without checking the new balance. A no-money-out-of-pocket refinance can still increase total debt.
- Restarting the loan term without comparing total interest. A lower monthly payment can hide a longer payoff schedule.
- Believing a new COE creates new entitlement for the IRRRL. The IRRRL reuses the entitlement associated with the existing VA loan; the lender verifies the prior VA guaranty and entitlement record.
- Using a second mortgage without confirming subordination. The new IRRRL must remain the first lien.
- Trusting unsolicited “skip payment” refinance claims. VA warns Veterans to be cautious with refinance advertising that sounds too good to be true.
A good IRRRL quote should be easy to explain in plain numbers: old rate, new rate, old PI, new PI, new balance, total costs, recoupment months, and the effect of the new term. If those numbers are unclear, do not rush the closing.
Final Verdict: Is a VA Streamline Refinance Worth It in 2026?
A VA IRRRL can be one of the simplest ways to improve an existing VA mortgage when the loan is properly seasoned and the new structure creates a real financial benefit. The most important 2026 rules are not marketing shortcuts: six consecutive payments, at least 210 days from the first payment due date, required rate reductions for fixed-to-fixed and fixed-to-ARM transactions, and the 36-month fee-recoupment protection all matter.
Before refinancing, compare the existing loan with the proposed IRRRL in full. A lower monthly payment can be valuable, but the new balance, financed costs, funding fee, loan term, and expected time in the home determine whether the refinance actually improves your position.
Ready to Compare Your VA Refinance Options? Security America Mortgage can review your current VA mortgage, seasoning, payment history, rate, estimated closing costs, funding-fee status, and break-even period to determine whether an IRRRL or another VA refinance structure fits your goal. Start your VA refinance application or call (855) 701-2816.
Frequently Asked Questions
What is a VA Streamline Refinance?
A VA Streamline Refinance is the common name for a VA Interest Rate Reduction Refinance Loan, or IRRRL. It refinances an existing VA-backed mortgage into another VA-backed mortgage under new terms.
Can I use an IRRRL to refinance a conventional loan?
No. An IRRRL is a VA-to-VA refinance. Refinancing a non-VA mortgage into a VA loan generally requires a different VA refinance structure, such as a qualifying VA cash-out refinance.
How long do I have to wait before getting an IRRRL?
Both seasoning tests must be met: at least six consecutive monthly payments on the current loan and at least 210 days from the first payment due date to the IRRRL closing date.
How much does the rate have to drop on an IRRRL?
For fixed-rate to fixed-rate IRRRLs, the new rate must be at least 0.50 percentage points lower. For fixed-rate to adjustable-rate IRRRLs, the initial new rate must be at least 2.00 percentage points lower.
Do I need an appraisal for a VA IRRRL?
VA generally does not require a new appraisal for a standard IRRRL. A lender or a particular fixed-to-ARM structure can still require a valuation in some cases.
Do I need income verification for an IRRRL?
VA generally does not require full credit underwriting for a normal current IRRRL, but lenders can require income or other documentation as an overlay. Additional underwriting applies in certain cases, including significant delinquency or a PITI increase of 20% or more.
What is the VA IRRRL funding fee in 2026?
The standard funding fee is 0.50% for non-exempt IRRRL borrowers. Qualifying borrowers can be exempt under VA funding-fee rules.
Can IRRRL closing costs be rolled into the loan?
Yes, permitted closing costs and the VA funding fee can generally be financed into the IRRRL, subject to VA rules. Only up to two discount points may be included in the loan amount.
What is the 36-month IRRRL recoupment rule?
When the IRRRL lowers monthly principal and interest, applicable fees and costs generally must be recovered through the monthly savings within 36 months under the VA statutory recoupment test.
Can I take cash out with a VA IRRRL?
Generally no. An IRRRL is not an equity cash-out loan. Incidental refunds and limited energy-efficiency reimbursement rules are different from taking cash out for general use.
Can I get an IRRRL if I no longer live in the house?
Potentially. IRRRL occupancy generally requires that the Veteran previously occupied the property as a home, provided ownership and the other program rules are satisfied.
Can an IRRRL increase my monthly payment?
Yes in some structures, such as a shorter loan term or ARM-to-fixed refinance. If the new PITI increases by 20% or more, VA lender guidance requires additional underwriting to establish the borrower can support the higher payment.
Can an IRRRL refinance a second mortgage?
No. IRRRL proceeds cannot pay off unrelated liens. A second mortgage can remain only if the second-lien holder agrees to subordinate to the new VA first mortgage.
Do I need a new Certificate of Eligibility for an IRRRL?
A new eligibility determination is generally not the central requirement because the IRRRL is tied to an existing VA-guaranteed loan. If you have the prior COE, you can provide it; otherwise the lender can verify the VA loan and entitlement electronically.
How do I know if an IRRRL is worth it?
Compare the rate, monthly PI savings, total refinance costs, recoupment period, financed balance, new term, and how long you expect to keep the property. Passing VA rules does not automatically mean the refinance is the best personal financial choice.
