VA Interest Rate Reduction Refinancing Loan (IRRRL)

The Veterans Affairs IRRRL is a simple, yet powerful option that allows qualified veterans and military families to refinance an existing VA loan with minimal hassles and paperwork. The IRRRL provides a quick and efficient alternative to traditional refinancing and often requires “no cash out of pocket.”


Is It Right for You?

Eligible military personnel that have previously used their VA loan eligibility on an existing VA home loan.


Is It Right for Your Situation?

Primary residence, investment properties**, single family and 2-4 unit properties, condos and townhomes, Planned Unit Developments (PUDs), and manufactured double-wide homes; maximum loan amount is $1,000,000 and varies by area.


Features and Benefits

  1. Streamlined and flexible qualification requirements
  2. Reduced closing costs may be rolled into the loan
  3. A new Certificate of Eligibility (COE), appraisal or typical loan documentation may not be required
  4. Investment or non-owner occupied allowed (current Gateway customers only)**
  5. Cash-out options are not allowed


If you currently have a VA home loan and are interested in reducing your interest rate, or going from an adjustable rate to a fixed rate, the VA IRRRL is designed with you in mind.

Ready to get expert advice and determine what works best for your personal situation? Contact one of our local, caring mortgage professionals at a Mortgage Center Near You.