Explore VA refinance options and VA IRRRL that may help you lower your payment, access your home equity, or move into a loan structure that fits your goals.
Borrower-friendly guidance for VA refinance decisions.
Compare VA refinance options across multiple lenders.
Simple guidance from first review through closing.
There are two popular VA refinance options available. The question is, are you trying to just lower your rate, payment or payoff term or are you looking to tap into the equity of your home.
A simpler way to lower your rate or monthly payment on an existing VA loan with less paperwork.
Tap your home equity to pay off debt, fund a project, or refinance a non-VA loan into a VA loan.
PROGRAMS COMPARED
VA IRRRLs are a simple and streamline way of reducing your rate and payment but it does not give you any cash-out. But tapping into equity will require a cash-out refinance.
The Interest Rate Reduction Refinance Loan, often called a VA IRRRL or VA streamline refinance, is designed for borrowers who already have a VA loan are looking to lower their rates and payments without accessing any home equity.
Most VA IRRRLs generally require at least 210 days from the first payment due date on the current loan and six on-time monthly payments. The new loan must generally provide a net tangible benefit.
Use equity to consolidate higher-interest debts.
Fund renovations or needed repairs.
Create financial cushion when it makes sense.
Potentially refinance out of FHA or conventional mortgage insurance when eligible.
side by side comparison
| Feature | VA IRRRL / Streamline | VA Cash-Out Refinance |
|---|---|---|
| Current loan type | Existing VA loan | VA loan or non-VA loan |
| Main purpose | Lower rate, payment, or improve loan terms | Access equity or refinance into a VA loan |
| Cash back | No cash back allowed | Cash back may be allowed based on equity |
| Appraisal | Usually not required | Usually required |
| Income / credit review | Not typically required, but lender rules vary | Typically required |
| Closing costs | Often may be rolled into the new loan | May be financed or paid at closing |
| Best fit | Lowering payment or improving terms with a simpler process | Need cash-out, debt consolidation, or refinancing from non-VA |
before you move forward with a va refinance
Here are a few reasons to consider a VA refinance
Your current rate is higher than available VA refinance options.
Your monthly payment may improve after comparing costs and terms.
You want to consolidate higher-interest debt such as credit cards and unsecured loans
You may be able to refinance out of FHA or conventional mortgage insurance when eligible.
You want to switch from an adjustable rate to a fixed rate.
You plan to stay in the home long enough to justify the refinance.
Not sure which VA refinance makes the most sense for you?
VA refinances can include closing costs such as lender fees, title fees, recording fees, escrow items, and prepaid expenses. The good news? regardless of the VA refinance, your closing costs can be included in the new mortgage.
May be financed into the loan or paid at closing. Some veterans may be exempt.
May include lender, third-party, title, escrow, and prepaid items.
Some costs may be added to the loan balance depending on the structure.
We help compare whether the savings or goal may justify the cost.
Use this table to compare the current VA funding fee percentages in plain English. These percentages are based on the official VA funding fee charts effective April 7, 2023, and still valid as of July 2026
|
Loan Type
|
First Use
|
After First use
|
VA-Related Disability (At least 10%)
|
Best For
|
|---|---|---|---|---|
|
VA IRRL/Streamline Refinance
|
0.50%
|
0.50%
|
Exempt from funding fee
|
Lowering the rate and payment of a VA mortgage
|
|
VA Cash-Out Refinance
|
2.15%
|
3.30%
|
Exempt from funding fee
|
Accessing home equity or refinancing into a VA loan
|
|
VA Purchase/Construction - Less Than 5% Down
|
2.15%
|
3.30%
|
Exempt from funding fee
|
Buying with little or no down payment
|
|
VA Purchase / Construction — 5% Or More Down
|
1.25%
|
1.25%
|
Exempt from funding fee
|
Reduces the funding fee with a larger down payment
|
|
VA Loan Assumption
|
0.5%
|
0.5%
|
Exempt from funding fee
|
Taking over an existing VA loan
|
|
Manufactured Home, Not Permanently Affixed
|
1.0%
|
1.0%
|
Exempt from funding fee
|
Certain manufactured home financing
|
You'll need a Certificate of Eligibility
Current loan must be on time
Primary home only
No credit scores on VA IRRLs. As low as 520 on cash out refinances.
Up to 100% cash-out refinance on VA loans
210-day rule generally applies to IRRRLs.
We make the process simple, stress freeand streamline. Most of our Veteran clients are able to close on their VA refinances in as little as 10 business days.
Share your goal and current loan information.
We look at your loan, equity, payment history, and eligibility.
We shop multiple lenders to find the best rates and pricing options that fit your goal.
We guide you through next steps and stay with you to closing.
Don’t stop here. We have some very valuable resources below that you can use to help guide your decision.
