IRRRL Recoup Check glossary
Key terms
Rule check
These terms come up with the IRRRL, each with a primary source. This is not a government website.
Last reviewed against the primary sources listed below.
- IRRRL
- Interest Rate Reduction Refinance Loan for existing VA loans. Source: VA: Interest rate reduction refinance loan
- Recoupment
- Time for savings to cover costs. Source: VA Circular 26-18-30: Revisions to VA-guaranteed cash-out refinancing home loans
- Seasoning
- The waiting period before refinancing. Source: VA Circular 26-18-30: Revisions to VA-guaranteed cash-out refinancing home loans
- Funding fee
- A VA fee, reduced for IRRRLs. Source: VA: VA funding fee and loan closing costs