What is a VA IRRRL and who is it for?
A VA IRRRL is a streamlined refinance for homeowners with an existing VA-guaranteed loan, designed to reduce the interest rate or move from an ARM to a fixed rate with limited documentation. Mortgage Go originates VA IRRRLs through licensed loan officers in the states where each officer is individually licensed.
Who it's for
Homeowners with an existing VA-guaranteed loan who want to refinance into a lower rate or move from an ARM to a fixed rate.
Who it's not for
Homeowners without an existing VA loan, or anyone wanting to take cash out — IRRRL is not a cash-out program.
Benefits
- Streamlined documentation compared to a full refinance.
- Designed to reduce the interest rate on an existing VA loan.
- Move from an ARM into a fixed-rate VA loan.
- No appraisal required in many scenarios (subject to program rules).
Key facts
- Eligibility
- Existing VA-guaranteed loan required
- Cash out
- Not allowed under IRRRL
- Loan term
- 15 or 30 years
- Minimum credit score
- Placeholder — pending compliance
Calculator
VA IRRRL (Streamline Refinance) calculator embeds here in Phase 2.
Frequently asked questions
What is a VA IRRRL?+
An Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined VA refinance designed to lower the interest rate on an existing VA loan with limited documentation.
Can I take cash out with an IRRRL?+
No. The IRRRL program does not allow cash out. Homeowners who want to access equity should look at a VA cash-out refinance or a non-VA option.