VA Streamline | VA Cash Out


The VA streamline refinance is a quick and inexpensive type of refinance for veterans and active-duty servicemembers who currently have a VA home loan. It’s one of the only refinance programs that you can qualify for without income or bank account verification!

VA refinance rates are at historic lows!

If you are interested in reducing your interest rate AND monthly mortgage payment, it’s worthwhile to see if a VA streamline refinance is right for you.

Am I eligible for an IRRRL?

You may be able to get an IRRRL if you meet all of the requirements listed below. All of these must be true. You:

  • Already have a VA-backed home loan, and
  • Are using the IRRRL to refinance your existing VA-backed home loan, and
  • Can certify that you currently live in or used to live in the home covered by the loan – You do not have to live in the home when you do an IRRRL. It may be rented at that time.

Note: If you have a second mortgage on the home, the holder must agree to make your new VA-backed loan the first mortgage.

Why might I want to get an IRRRL?

Often called a “streamline” refinance, an IRRRL may help you to:

  • Lower your monthly mortgage payment by getting you a lower interest rate, or
  • Make your monthly payments more stable by moving from a loan with an adjustable or variable interest rate (an interest rate that changes over time) to one that’s fixed (the same interest rate over the life of the loan).

Note: Please know that by refinancing, the total finance charges may be higher over the life of the loan.

Can you get a cash-out VA streamline refinance?

The answer is no, but there’s an exception: Up to $6,000 in cash MAY be taken out from your IRRRL for energy-efficient improvements. A lender may require an energy audit of your home to prove the upgrades will provide a real return on investment.

Other than that, there are no other cash-out options on an IRRRL. Your closing costs can be rolled into your loan balance or priced into your interest rate, just like any other VA home loan. You can finance in the interest to not make a mortgage payment for up to two months, AND get the money back from your current escrow account.

One thing you can’t avoid: the VA funding fee. For most borrowers, that will mean a 0.5% charge. The fee is waived for VA borrowers with service-connected disabilities and certain surviving spouses.


The maximum loan amount is 100 percent of the appraised value, plus the cost of any energy efficiency improvements, plus the VA funding fee. This is limited to 75% OVER the county limit in your area, so be sure to ask our specialists YOUR maximum loan amount.

A VA cash-out refinance loan is a VA-guaranteed loan that allows refinances of any type of lien against the secured property, along with any other consumer debt.

The VA Cash Out loan is ONLY for Owner Occupied Properties. The veteran must have sufficient available entitlement for the loan. If an existing VA loan on the same property will be paid off by the refinancing loan, the entitlement used for that existing loan can be restored for purposes of obtaining the new loan.

Also, if you are looking to BUY another home, you may be able to use your VA again, even though you already have a VA loan. Call today to find out more information from one of our specialists!

Our Veterans deserve top notch service and low costs…This is the place for both!

CALL 888-525-5345 or APPLY NOW

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