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VA Interest Rate Reduction Refinance Loan (IRRRL)

With a VA IRRRL,‍ ‍ See note 1 you could refinance with $0 origination fee.‍ ‍ See note 2

Call 800-531-0341

For TTY devices, dial 711

Hours of operation for USAA loan officers

Monday to Friday
7 a.m. to 8 p.m. CT
Saturday and Sunday
Closed

Note: Days and times may vary

Our current VA IRRRL rates

 

§%

Interest rate‍ ‍ See note 3

§%

APR‍ ‍ See note 4

Points §

Find more mortgage rates

How a VA IRRRL works

Veterans and their surviving spouses can refinance their VA loan to lower payments, pay off their loan faster or lower their interest rate.

Lower interest rate

You could save on your monthly payment by refinancing your VA loan.

Less paperwork

The VA IRRRL process is simple – you only need a few documents.

Not a member? Join USAA

Find a payment that works for you.

Use our calculator to find a monthly payment that may work for you and your budget.

Go to mortgage calculator

We’ll guide you through the process.

Steps to complete We’ll guide you through the process.

  1. Answer some questions.

    You'll need your VA loan interest rate and what you pay for insurance, taxes and homeowners association dues.

  2. Collect your documents.

    You may only need to show proof of homeowners insurance and any homeowners association documents.

  3. Sign your new loan papers.

    We'll work with you to schedule a closing day.

Call 800-531-0341

For TTY devices, dial 711

Hours of operation for USAA loan officers

Monday to Friday
7 a.m. to 8 p.m. CT
Saturday and Sunday
Closed

Note: Days and times may vary

Why choose us

Top VA home loan lender‍ ‍ See note 5

USAA Bank ranks as one of the top VA mortgage lenders.

20+ years of experience

USAA Bank has more than 20 years of experience with VA home loans.

Over a century of service

We’ve served the military since our founding in 1922.

VA IRRRL FAQ

It depends on what your goals are. With an IRRRL, for example, you can refinance the remaining balance of your VA loan to help lower your interest rate and monthly payment.

Explore more reasons to refinance your home, view when should I refinance my mortgage article.

The VA IRRRL process usually has fewer steps than a home purchase, but any step could have delays.

It's possible. You could see an increase in your monthly payment if you add closing costs or discount points to your loan. You might also see an increase if you're reducing your term or refinancing an adjustable-rate mortgage, or ARM, to a higher-rate loan.

When you apply for a VA IRRRL, the principal and interest on the new loan must be less than the current loan, unless you meet one of these exceptions:

  • You're refinancing an ARM to a fixed-rate loan.
  • The IRRRL term is shorter than the existing loan.
  • You're planning to make home energy improvements with the IRRRL.

Other refinance loans

You may need a cash-out refinance if you plan to tap into your home's equity.‍ ‍ See note 6 You can use the cash, up to $500,000, however you’d like.

Explore our loan refinancing options

Related articles

Why should I refinance my mortgage?

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VA loans: Your guide to eligibility & benefits

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Apply for a VA IRRRL today.

Call our team today to learn if a VA IRRRL can help you save.

Call 800-531-0341

For TTY devices, dial 711

Hours of operation for USAA loan officers

Monday to Friday
7 a.m. to 8 p.m. CT
Saturday and Sunday
Closed

Note: Days and times may vary

Related footnotes:

  1. VA loans may include a funding fee, which may be financed up to the maximum allowed loan amount.

  2. Certain closing costs, including the VA funding fee and some lender charges may be financed into a VA IRRRL. Limits and exceptions may apply.

  3. The advertised rates and points are subject to change without notice at any time and are not available to every borrower. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment and our internal credit criteria. The advertised rates are based on a fixed rate mortgage loan and rates will vary based on the term of the mortgage loan and property location. Other rates, points, and terms may be available. All loans are subject to credit and property approval. Property insurance is, and flood insurance may be, required.

  4. APR (Annual Percentage Rate) is a rate used to calculate your cost of borrowing in a year. Unlike interest rates, APR factors in the amount borrowed, the interest rate, points, one-time fees, and discounts to determine a more accurate yearly cost. The standardized APR formula is used to make it easier for consumers to compare rates at different businesses.

  5. In 2024, USAA Bank originated the 11th highest total of VA purchase home loans and ranked in the top 11 lenders for the highest amount of VA loan volume among more than 1,100 lenders. Source: Department of Veterans Affairs Lender Statistics.

  6. USAA Bank does not offer a cash out refinance product in the state of Texas.

Related footnotes:

  1. Use of the term "member" or "membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change. To join USAA, separated military personnel must have received a discharge type of Honorable or General Under Honorable Conditions. Eligible family members may also join USAA.

  2. A home loan refinance may be useful for many customers who want to lower their monthly debt payments. However, a refinance is secured by your home, has closing costs and may ultimately require paying more in interest over time.

  3. VA IRRRL: All VA rules, guidelines and additional program requirements will apply. Except as provided by applicable VA guidelines, the same parties obligated on the original loan must be the parties on the title and obligated on the new loan. Proceeds from the new loan will only be used toward payment of the original loan amount. No cash back can be received from the new loan. Payment of discount points, taxes, insurance and HOA fees are the responsibility of the borrower. Other exclusions apply. Refinancing either to lower the monthly payment or change from a variable-rate to a fixed-rate loan could result in an increase in the total number of monthly payments and interest charges paid over the full term of the new loan.

  4. USAA Bank Mortgage offers mortgage products to members where the property is located within the Continental United States, Alaska, Hawaii, and the District of Columbia. Excludes properties within U.S. Territories. In certain states, product restrictions may apply.

  5. Members must meet all VA eligibility requirements when applying for a VA loan. Speak with a USAA Bank Loan Officer to review current VA eligibility requirements.

  6. Home loans subject to credit and property approval.

  7. "USAA Bank" means USAA Federal Savings Bank.

  8. Bank products offered by USAA Federal Savings Bank.

  9. USAA is an Equal Housing Lender

  10. USAA FSB NMLS 401058

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