Veterans Affairs Interest Rate Reduction Refinance Loan (IRRRL)
- Refinance
- Statewide
Summary
The Interest Rate Reduction Refinance Loan (IRRRL) is a VA-backed home loan that allows borrowers to potentially lower their monthly mortgage payments or achieve more stable payment terms. By refinancing, the borrower can replace their existing loan with a new one that comes with different terms. Those interested in an IRRRL can determine their eligibility and learn about the application process.
Eligibility Requirements
- The applicant(s) must already have a VA-backed home loan.
- The applicant(s) is using this program is refinance their VA-backed home loan.
- The applicant(s) must currently live in or previously lived in the property with the VA-backed home loan.
- If there is a second mortgage on the property, the holder must agree to make the VA-backed loan the primary mortgage.
Contact Information
U.S. Department of Veterans Affairs
Phone: 800-698-2411