The fast and easy way to refinance your VA mortgage 

A VA IRRRL is a streamlined process that allows you to eliminate a lot of red tape when refinancing your existing VA mortgage. As a current Caliber Home Loans, Inc. customer with VA loan, we make the process easier for you and deliver a smoother, faster path to closing than your typical loan process.*

IRRRL stands for Interest Rate Reduction Refinance Loan (pronounced “Earl”) and it’s an easy way to replace your current VA loan with one that has a lower interest rate. You can also use it to shorten your VA mortgage term or to switch from an ARM to a fixed-rate loan. And while most funding fees typically range from 2.14% to 3.3%, an IRRRL comes with a lower VA funding fee of just 0.5%.

Key Features and Benefits of VA Streamline Refinance: 

• An easy way to lower your monthly payments if the interest rate has decreased since you got your original VA loan. 

• You can also use an IRRRL to change an adjustable-rate mortgage (ARM) to a fixed-rate loan, shorten your loan’s term or pay for energy-efficient home improvements. 

• No appraisal is required.
• No need to verify your income. 
• Your VA entitlement is re-used, so your amount is not affected. 
• The VA funding fee is lower than on original VA loans. 
• Less expensive overall and often has no out-of-pocket costs. 
• You gotta love a program that’s pronounced “Earl.”

*VA Streamline Refinance Eligibility and Property Requirements: Be current on your mortgage with no more than one 30-day late payment within the past year. Your new monthly payment for the IRRRL must also be lower than the previous loan’s monthly payment unless you refinance an ARM to a fixed-rate mortgage. You must not receive any cashback from the VA Streamline Refinance. You must have previously used your VA Loan eligibility on the property you intend to refinance and certify that you previously occupied the property. You may see this referred to as a VA to VA refinance.