VA Streamline Refinance (IRRRL) | Lower Your Payment

VA Streamline Refinance (IRRRL)

Qualified VA borrowers have access to one of the most straightforward and powerful refinance options around: the VA Interest Rate Reduction Refinance Loan (VA IRRRL), also known as a VA Streamline refinance.

VA Streamline refinance loans are relatively easy and can be completed quickly due to the fact that homeowners are refinancing from one VA loan product to another.

No Appraisal Needed
No Income Verification
Soft-Pull Credit Check
Lower Your Monthly Payment

Payment Examples

How much could you save with lower monthly payments?

$350,000 loan amount

5.5% interest rate

$1,987

Monthly Principle & Interest Payment

$350,000 loan amount

5.25% interest rate

$1,933

Monthly Principle & Interest Payment

$350,000 loan amount

4.999% interest rate

$1,879

Monthly Principle & Interest Payment

What is a VA IRRRL (Streamline Refinance)?

A VA IRRRL, pronounced as “VA earl,” is a mortgage refinance option for Veterans with an existing VA loan. 

The IRRRL allows homeowners to refinance an existing VA loan to a new VA loan with a lower interest rate or convert a VA loan from an adjustable to a fixed rate.

It's often called a VA streamline because it generally requires less paperwork and is faster than a typical refinance.

The typical reason many Veterans refinance is to lower their current mortgage's interest rate. IRRRL rates may vary from home purchase rates. 

When refinancing, the difference in rate or terms must be enough to provide tangible benefits, such as lower monthly payments or a fixed interest rate instead of an adjustable one.

VA Streamline IRRRL Requirements

- Your current mortgage must be a VA home loan.

- You must be current on your mortgage payments.

- The new interest rate must be at least 0.5% lower.

- Confirm that you have used the property as your primary residence.

- You cannot receive cash from the IRRRL.

- The property must be associated with your VA loan entitlement.

What do others say?

"Ben Miller's background and expertise took the pressure and weight off our transition from Active Duty to retired life. He guided our loan quickly through the process, answered questions and every call we had and ultimately landing the family into our next chapter and home. If you have questions about the loan process, don't know if you have the right person working for your family/loan, then I suggest you quickly switch to Ben Miller and move forward with confidence."

 USAF, Retired

"Was the smoothest part of my buying experience. I vetted a few others and he was simply the best option. He was knowledgeable on my VA loan, his rates were very comparable, but the customer service is what got me. He was very responsive and I gave him so many last minute "can I have this five minutes ago" requests. He delivered on them all. Highly recommend."

Payment Examples

How much could you save with lower monthly payments?

$350,000 loan amount

5.5% interest rate

$1,987

Monthly Principle & Interest Payment

$350,000 loan amount

5.25% interest rate

$1,933

Monthly Principle & Interest Payment

$350,000 loan amount

4.999% interest rate

$1,879

Monthly Principle & Interest Payment

Getting started on a VA Streamline refinance is easy.

No appraisal needed in most instances

No requirement to currently occupy the home

No requirement for out-of-pocket costs

Enter your home address to begin

Ben Miller | NMLS # 974522 | https://www.benmillerloans.com/ | (423) 494-8894 | 404 S Roan Street, Johnson City, TN 37601

Barrett Financial Group, L.L.C. | https://www.barrettfinancial.com/ | NMLS #181106 | 275 E Rivulon Blvd, Suite 200, Gilbert, AZ 85297

GA 181106 | TN 204577 | VA MC-7357 & MC-7357 | Equal Housing Opportunity | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106

Rate availability will depend upon an individual's credit score and details of the loan transaction. 

Items needed for rate quote and underwriting: Driver License/ID, Current mortgage statement, Homeowners Insurance info, Property Tax info, Copy of mortgage Note.

Got Questions?

VA Mortgage Pro

Call or text me directly

(423) 494-8894