The VA streamline refinance, tested against the rules that protect you
IRRRL eligibility
Rule check
According to VA, you may be eligible if you already have a VA-backed home loan, you are using the IRRRL to refinance that same VA-backed loan, and you can certify that you currently live in, or used to live in, the home. If there is a second mortgage, its holder must agree to make the new VA loan the first mortgage.
Last reviewed against the primary sources listed below.
What an IRRRL cannot do
- Refinance a conventional or FHA loan into a VA loan; that takes a VA cash-out refinance.
- Put meaningful cash in your pocket.
IRRRL questions
Do I need a new Certificate of Eligibility for an IRRRL?
VA says to bring the COE from your original loan if you have it, or the lender can get it electronically.
Can I do an IRRRL on a home I no longer live in?
Yes, if you can certify that you previously lived in it, according to VA.