How much can I save with a VA IRRRL?
Savings depend on how far your rate drops, but a VA IRRRL is designed to lower your rate and payment with minimal cost, often with no appraisal or income docs. Even a modest rate reduction can save real money monthly.
The funding fee on an IRRRL is low (0.5%) and can be financed. We'll compare your current payment to the new one and show your monthly and lifetime savings.
Savings depend on the rate gap
Your savings from a VA IRRRL come from the difference between your current rate and the new one. Dropping from 7% to 6% on a $300,000 loan can save roughly $200 a month.
Over the life of the loan, even a one-point drop can add up to tens of thousands.
Low cost, quick payback
Because the IRRRL has low fees and often no appraisal, your break-even point comes fast. That makes the savings easier to capture than a standard refinance.
We will calculate your exact IRRRL savings. Reach out and we will show your numbers.
Verify the details for your own situation against these government and agency sources: VA home loan eligibility and Florida Housing Hometown Heroes.