Program Description
A Department of Veterans Affairs (VA) Interest Rate Reduction Refinance Loan (IRRRL) can be used to refinance an existing VA loan to lower the interest rate.
IRRRLs do not require credit underwriting and may include the entire outstanding balance of the prior loan, to include closing costs and up to two discount points. Please note that some lenders may require additional credit requirements for loan approval. Therefore, VA encourages you to contact multiple lenders to determine the best loan option to fit your needs.