VA streamline refinance (IRRRL)
Lower the rate on your current VA loan with less paperwork, often no appraisal, and a 0.5% funding fee that many veterans don't have to pay at all.
Written by the FLO Mortgage team · Licensed mortgage broker, NMLS #1835856 · Updated October 2026
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At a glance
- Refinances an existing VA loan
- Seasoning: 210 days and 6 payments
- Rate must drop enough to benefit you
- Funding fee 0.5% unless exempt
Talk with a licensed loan officer
VA refinance
A VA Interest Rate Reduction Refinance Loan, usually called an IRRRL or VA streamline, replaces your current VA loan with a new VA loan. Its purpose is narrow: to lower your interest rate or move you from an adjustable rate to a fixed rate. Because the VA already guarantees your existing loan, the process is lighter than a regular refinance, with less paperwork and often no appraisal.
FLO Mortgage helps veterans, service members and surviving spouses refinance VA loans in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas.
IRRRL requirements
You must already have a VA loan
An IRRRL can only refinance a VA-guaranteed loan. If you have an FHA, conventional or USDA loan, a VA cash-out refinance is the way to move into a VA loan.
Seasoning
The VA requires your current loan to be at least 210 days past its first payment due date, with at least six consecutive monthly payments made.
A real benefit to you
The VA requires the new loan to benefit you. For a fixed-to-fixed refinance, the new rate generally needs to be at least half a percentage point lower. Moving from a fixed rate to an adjustable rate requires a larger reduction. Your lender must also show that the costs of the refinance are recouped within 36 months through the lower payment.
Prior occupancy
You certify that you lived in the home at some point. You don't have to live there today, which makes the IRRRL a useful tool for veterans who moved and kept the home as a rental.
What an IRRRL costs
You'll have normal closing costs such as title, recording and lender fees, plus the VA funding fee of 0.5% of the loan amount unless you are exempt. Most costs can be included in the new loan, so many borrowers bring little or no cash to closing.
Rolling costs into the loan raises your balance, so your loan officer should walk you through the trade-off between a lower payment and the total you'll pay over time.
IRRRL vs. VA cash-out refinance
| VA IRRRL | VA cash-out | |
|---|---|---|
| Current loan must be VA | Yes | No, any loan type |
| Cash to you | No | Yes |
| Appraisal | Usually not required by VA | Required |
| Funding fee (first use) | 0.5% | 2.15% |
| Full credit and income review | Lighter | Yes |
If you only want a lower rate, the IRRRL is usually the faster, cheaper path. If you need cash for repairs or debt payoff, or you're coming from a non-VA loan, compare it with a VA cash-out refinance.
Questions, answered
Do I need a new appraisal for a VA IRRRL?
The VA does not require an appraisal for most IRRRLs. Some lenders still order one, so ask your loan officer what applies to your loan.
How soon can I do a VA streamline refinance?
Your current VA loan must be seasoned: at least 210 days must pass after your first payment was due, and you must have made at least six consecutive monthly payments.
Can I take cash out with an IRRRL?
No. An IRRRL is for lowering your rate or moving to a fixed rate. If you want cash from your equity, look at a VA cash-out refinance instead.
Do I have to live in the home now?
No. You must certify that you lived in the home before, but you can do an IRRRL on a home you have since moved out of and now rent.
What is the funding fee on an IRRRL?
It is 0.5% of the loan amount and can be rolled into the loan. Veterans who receive VA disability compensation and other exempt borrowers pay no funding fee.
Does an IRRRL use more of my entitlement?
No. Because you are replacing one VA loan with another, your entitlement simply moves to the new loan.
More VA loan guides
- VA home loans overview
- VA loan questions, answered
- VA loan tools and calculators
- VA home buying roadmap
- VA loans for first-time buyers
- VA loans for active duty
- VA loans for Guard and Reserve
- VA appraisals and property requirements
- VA closing costs and seller concessions
- VA occupancy rules
- VA entitlement and second VA loans
- Assumable VA loans
- VA condos and property types
- VA manual underwriting
- Disabled veteran property tax exemptions
- VA cash-out refinance
- VA funding fee exemption
- VA loans for surviving spouses
- VA residual income explained
- VA loans after bankruptcy or foreclosure
Local VA loan help
Talk to a FLO Mortgage loan officer
Every FLO loan officer helps veterans, service members and military families with VA loans. Have a question these guides don't answer? Ask our team.
This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Lender requirements may be stricter than the program guidelines described here. Not all applicants will qualify. Figures reflect 2026 VA guidelines and may change without notice. FLO Mortgage is licensed in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas. Company NMLS #1835856. Equal Housing Opportunity. FLO Mortgage is not affiliated with or endorsed by the U.S. Department of Veterans Affairs or any government agency. Licensing & Disclosures.
Local, licensed help
Talk a VA loan through with a FLO loan officer
Every FLO Mortgage loan officer can walk you through this program, run the numbers for your situation and compare it with your other options. Have questions? Call our main office at (386) 882-9980.
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