USAVA Lending is a VA Approved Lender | NMLS ID 966439 | MB 0921703
04 2016

IRRRL option available for veterans

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If you already have a VA home loan and are in search of a reduced interest rate, changing the length of your loan or for a fixed rate mortgage, an Interest Rate Reduction Refinance Loan (IRRRL) may be the right fit for you.

IRRRLs can be issued by VA-approved lenders like USAVA and are guaranteed by the federal government.

IRRRLAn IRRRL is one of the quickest and easiest refinance options available on the market today.


IRRRLs are consistent with VA home loan requirements and are available to:

More specifically one or more of the following must apply:

*Borrowers must also be current with mortgage payments with no more than one 30-day late payment within the last year and certify he or she once occupied the home.


Applying for an IRRRL does not require an additional Certifcate of Eligibility. The mandatory funding fee, 1/2 (.5%) percent of the loan total, may be added to the loan balance meaning little to no out of pocket costs for the borrower.

Funding is also available for energy efficiency improvements under the VA program and may be added to the VA loan on during the IRRRL process. Borrowers may add up to $6,000 in qualified improvements to their loan.

Acceptable improvements allowed in the Energy Efficient Mortgage loan program include:

Borrowers have set time frame to make the approved repairs that are set by lenders and vary by case

*Additionally, here at USAVA, there are no additional appraisals, credit score, income or asset verification requirements.

 IRRRL must help borrower


In order for USAVA to approve an IRRRL, the refinancing must work in the borrowers advantage. Payments must be lowered for the borrower unless:

If you have a VA home loan using another lender, you do not have to stay with that lender to refinance your loan. You may use any VA-approved lender like USAVA to get your refinance process started.

USAVA offers up to $500 cash at closing from loan proceeds, take advantage of the opportunity and work with a “A+” rated Better Business Bureau accredited company today!