VA IRRRL Calculator
Simple calculator for VA Interest Rate Reduction Refinance Loans
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Current Loan
$100k$1M
$100k$1M
2%10%
1 year30 years
🔄
New VA Refinance Loan
2%10%
Example rate, yours may differ.
Rate Reduction: 1.000% ✓ Meets 0.5% requirement
Disabled veterans are exempt from VA funding fees on IRRRLs
$8,850
Estimated Closing Costs
Based on 3% of loan amount. Costs vary by state.
$303,850
New Loan Amount
Current balance + closing costs
💡 Closing costs are rolled into your new loan
No out-of-pocket expenses required for VA IRRRL refinancing!
Your Results
$2005.08
Current Payment
$1797.39
New Payment
$207.69
Monthly Savings
$2492
Annual Savings
43
Months to Break Even
Visualization
Projections compare both loans over the first 10 years (120 months).
Payment Comparison
Monthly payment difference: $208 saved
Yearly Savings Projection
Break-Even Analysis
Net position starts negative because closing costs are financed into the new loan, then improves as monthly savings accumulate.
State ID required to display BAH rates
Frequently Asked Questions About VA IRRRLs
What is a VA IRRRL?
A VA IRRRL (Interest Rate Reduction Refinance Loan) is a refinancing option for veterans who want to lower their interest rate on an existing VA loan.
Who is eligible for a VA IRRRL?
Veterans with an existing VA loan who want to refinance to a lower interest rate are eligible for an IRRRL.
What are the benefits of a VA IRRRL?
Lower monthly payments, reduced interest costs, and potentially shorter loan terms are the main benefits of a VA IRRRL.
Are there closing costs with a VA IRRRL?
Yes, there are closing costs, but they can often be rolled into the loan amount or covered by the lender.