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
Payment Comparison
Cumulative Savings (5 Years)
Break-Even Analysis
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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.