VA IRRRL Calculator (VA Streamline Refinance)
Calculate the VA Interest Rate Reduction Refinance Loan (IRRRL) savings — funding fee, monthly savings, break-even — instantly. No appraisal, no income docs, no minimum credit score.
| Loan Details | |
| Current P&I Payment | — |
| New Loan Amount (incl. fee & closing) | — |
| New P&I Payment | — |
| Monthly Savings | — |
| Funding Fee & Costs | |
| VA Funding Fee Rate | — |
| VA Funding Fee Amount | — |
| Closing Costs | — |
| Total Costs Rolled In | — |
| Lifetime Comparison | |
| Total Interest (Current Loan) | — |
| Total Interest (IRRRL) | — |
| Lifetime Interest Saved | — |
How a VA IRRRL Works
The VA Interest Rate Reduction Refinance Loan (IRRRL), often called the VA Streamline, lets veterans and active-duty service members refinance an existing VA loan into a new VA loan with lower documentation. The U.S. Department of Veterans Affairs (VA) created the IRRRL specifically to capture interest-rate drops without forcing veterans through full underwriting. There is no appraisal, no income verification, no credit score minimum imposed by VA (lenders may still set their own), and no out-of-pocket cash needed at closing — funding fee and closing costs roll into the new loan.
Per VA's official IRRRL guidance, the new loan must produce a "lower monthly payment" than the current loan (with limited exceptions for fixed-to-fixed refinances and shorter-term refinances). The borrower must have made at least 6 monthly payments on the current loan and have no more than 1 late payment in the past 12 months.
VA Funding Fee — When You Pay and When You Don't
The VA funding fee for an IRRRL is 0.50% of the new loan amount. This is a flat rate regardless of down payment, military category, or whether it is your first VA loan — making IRRRLs the cheapest fee structure of any VA refinance. By contrast, a VA cash-out refinance charges 2.15-3.30% depending on usage.
Veterans receiving VA disability compensation (10%+ rating), surviving spouses receiving DIC, and Purple Heart recipients are exempt from the funding fee entirely. Approximately 35% of VA borrowers qualify for exemption based on VA Office of Inspector General data. The exemption can save $1,000-$2,500 per refinance — significant savings stacked across multiple refinances over a 30-year homeownership period.
VA IRRRL vs FHA Streamline vs Conventional Refi
Compared to other streamline programs, IRRRL is the most generous: no income docs (FHA streamline allows credit-qualifying or non-credit-qualifying; IRRRL is essentially always non-credit-qualifying), no appraisal in most cases (FHA same; conventional always requires appraisal), and lower funding fee (0.50% vs 1.75% upfront FHA MIP). The trade-off: you must be eligible for VA financing and currently have a VA loan.
For a side-by-side with FHA, see our FHA Streamline calculator. For full mortgage refi cost comparison including closing costs, run the refinance savings calculator. To pull cash equity instead of just lowering rate, the VA cash-out refinance is the only VA option (IRRRLs forbid cash-out beyond a small $500 cushion).
Net Tangible Benefit Test for IRRRLs
VA Circular 26-19-22 mandates that all IRRRLs pass a "net tangible benefit" recoupment test. The borrower must recoup all closing costs (excluding the VA funding fee) within 36 months through monthly payment savings. The calculator above shows your break-even — if it exceeds 36 months, the loan will not pass VA underwriting and the lender cannot close it.
Last updated May 2026. Sources: va.gov, benefits.va.gov.