Government Loan · For Veterans
VA IRRRL Streamline Refinance in Colorado
The simplest refinance in the business. Lower your rate on an existing VA loan — usually with no appraisal, no income documents, and no lender fees from me.
Overview
If you already have a VA loan, this is the easy one.
The Interest Rate Reduction Refinance Loan — the IRRRL, said “earl” — exists for one purpose: to lower the rate on a loan the VA already guarantees. Because the VA is refinancing its own risk, the paperwork collapses. In most cases there is no new appraisal, no income verification and no new certificate of eligibility. The funding fee is 0.5%, and veterans with a service-connected disability rating are exempt from it entirely. Closing costs can usually be rolled into the new loan, so many IRRRLs close with nothing out of pocket. And as with every VA loan I do, I waive my lender fees.
Who it is for
You can usually use an IRRRL if…
- You currently have a VA-guaranteed loan
- At least 210 days have passed since your first payment was due
- You have made six consecutive on-time monthly payments
- The new loan gives you a net tangible benefit — usually a lower rate
- You are moving from an adjustable rate to a fixed rate
- The property was your primary residence when you took the original loan
Highlights
Why the IRRRL is worth the phone call
No appraisal, usually
The VA does not require a new appraisal on most IRRRLs, which removes both the cost and the risk of a low value.
No income docs, usually
No pay stubs, no tax returns, no employment verification in the standard case.
No lender fees
My commitment on every VA loan, refinance included.
0.5% funding fee
Lower than a purchase VA loan — and waived entirely if you have a service-connected disability rating.
Roll costs in
Closing costs can typically be financed, so an IRRRL often costs nothing up front.
ARM to fixed
Moving from an adjustable VA loan to a fixed rate counts as a net tangible benefit even without a rate drop.
Ready to see your IRRRL number?
Send me your current VA loan rate and balance and I will tell you in one message whether it is worth doing. Call (303) 557-3846 or start online.