VA Interest Rate Reduction Loan​ (VA IRRRL Refinance)

VA IRRRL Refinance (VA Streamline)

A VA IRRRL refinance (VA Interest Rate Reduction Loan) is refinancing an existing VA-guaranteed loan, for veterans and military families, with limited borrower credit documentation and underwriting. No appraisal is required for a VA IRRRL and a certificate of eligibility is not required.

Depending on the lender, guidelines and requirements can vary – Nationwide Mortgage & Realty, LLC does not have overlays.

Qualifications for a VA IRRRL Refinance

  • No minimum credit score required.
  • When reducing the term, the PITI cannot increase more than 20% without qualifications.
  • See the new policy update, Circular 26-18-13, by the Veterans Benefits Administration effective 5-25-2018.

Benefits of a VA IRRRL Refinance (VA Streamline)

  • Possibility to bring no money to closing.
  • Refund of current escrow account.
  • Defer up to two mortgage payments.
  • In the case of an escrow shortage, a new escrow account will be set up with the appropriate amount for taxes and insurance.
  • Generally more competitive rates than conventional loans, which means savings in the long run.

Closing Costs:

Closing costs for vary by lender. Closing costs can be financed with a VA IRRRL. Call today to talk with a loan specialist about loan costs.


  • No paystubs, W2s or tax returns.
  • No appraisal.
  • No bank Statements are required.


  • Chapter 7 bankruptcy must be discharged.
  • Chapter 13 bankruptcy is permitted as long as there is a satisfactory trustee payment history and court approval.


Get Pre-Approved

Start by applying to get pre-approved today.

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