US 2028 VA IRRRL Streamline
VA IRRRL 2028: streamline refi VA-to-VA. No appraisal, no income verification, no PMI. Funding fee 0.5% (waived if disabled vet). Break-even fast.
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| New monthly P&I | — |
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The VA IRRRL (Interest Rate Reduction Refinance Loan) lets veterans + service members refinance an existing VA loan to lower rate with minimal documentation. No appraisal, no income/employment verification, no PMI. 0.5% funding fee (waived for service-connected disabled). Must result in lower rate or move from ARM to fixed.
IRRRL Streamline Process
Streamlined process: no appraisal, no income verification. Underwriting takes 2-4 weeks vs 30+ for standard refi. Closing costs financeable into loan. Common annoyance: lender may require credit pull + verification of employment despite VA's relaxed standards.
Funding Fee + Disability Waiver
Standard IRRRL funding fee: 0.5%. Waived if you have a service-connected disability rating. Also waived if surviving spouse of veteran killed in service. Saves $1,500-$3,000 typical loan.
Net Tangible Benefit Required
Must demonstrate 'net tangible benefit' = lower rate or convert ARM→fixed. Lender will calculate. Some restrictions on cash-out — IRRRL is rate/term only; for cash-out use VA Cash-Out refi.
Last updated May 2026. Sources: VA.