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VA - Home Loans - Interest Rate Reduction Refinancing Loan

Veterans-Active Duty > VA - Home Loans - Interest Rate Reduction Refinancing Loan


Program Description:

VA loan guarantees are made to service members, veterans, reservists and certain qualifying unmarried surviving spouses for the refinancing of a VA home loan.


General Program Requirements:

You must have a current VA loan to be able to utilize the Interest Rate Reduction Refinancing Loan (IRRRL) program.





Loan Terms:

The interest rate varies and the length of the loan cannot exceed 360 months. Payments are due monthly. No more than 2 points may be rolled into this loan plus allowable closing costs.


Application Process:

Contact a lender to discuss qualifying for an IRRRL. The lender will make sure you meet basic program requirements, including the following:

  • The monthly payment must be for less than the original loan.
  • The interest rate must be for less than the original loan (unless refinancing an Adjustable Rate Mortgage).
  • The term cannot exceed 360 months or no more than 10 years more than the original loan (up to a max of 360 months).
Please note that if you are interested in obtaining an Adjustable Rate Mortgage (ARM) loan, the loans are being offered as a traditional 1 year ARM and also as hybrids with 3, 5, 7 and 10 year fixed rates, where available.

NOTE: If you plan to stay in your home for longer than the fixed rate period, an ARM may not be in your best interest.

It is a good idea to use a mortgage calculator to determine what the best loan, term and interest rate are for you and your family.


Program Contact Information:

For more information on this program, please visit:

You may contact a Regional Loan Center to discuss purchase and Refinancing issues:


Managing Agency:

Veterans Benefits Administration (VBA)

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