Lower your VA mortgage payment with no appraisal or income docs required!
If you currently have a VA loan and want to reduce your monthly payment or interest rate, a VA Streamline Refinance, also known as a VA IRRRL (Interest Rate Reduction Refinance Loan), is a fast and simple solution. This special program is designed exclusively for existing VA borrowers and comes with flexible guidelines and minimal paperwork.
At Choice Mortgage Group, we help Colorado veterans and active-duty homeowners refinance smoothly using this benefit they’ve earned.
Why choose a VA Streamline Refinance?
Here are the standout features of this program:
- No home appraisal required – Great if your home value has declined
- No income verification required – Ideal for retirees or those with changing income
- Lower interest rates – Designed to help you reduce your monthly payment
- Quick closings – Less documentation and faster approval process
- No cash to close in most cases – Closing costs can be rolled into the loan
VA Streamline Refinances are only available to those with an existing VA loan and are strictly for lowering your rate or monthly payment, no cash-out allowed.
Do you qualify for a VA IRRRL?
To use the VA Streamline Refinance in Colorado, you must meet the following:
– You currently have a VA loan
– You’ve made at least 6 monthly payments
– You are current on your mortgage (no more than one 30-day late in the last 12 months)
– Your new loan must result in a net tangible benefit, such as a lower interest rate or monthly payment
– You plan to use the home as your primary or previous primary residence
Learn more at the VA’s official IRRRL page
We’re here to help you make the most of your VA loan benefits with expert advice and fast turnarounds. We’ve helped hundreds of veterans and active-duty borrowers across Centennial, Aurora, Castle Rock, Highlands Ranch, and throughout Colorado.
Call or text us at 303-670-0137, email us at rbaxter@choicemortgage.com, or request your custom VA streamline quote today. You’ve earned this benefit and we’re here to help you use it wisely.
*Guidelines current as of May 2025
VA Streamline Refinance FAQs
It’s a simplified refinance option for current VA loan holders. It lets you refinance to a lower rate or shorter term with minimal paperwork, no appraisal in most cases, and no income verification.
Not usually. Most IRRRLs do not require a new appraisal, which makes the process faster and more flexible — even if your home value has gone down.
No — the IRRRL is only for lowering your rate or changing your term. If you want to pull out equity, you’ll need to explore a VA cash-out refinance instead.
No — unlike most VA loans, you don’t need to currently live in the property. You just need to certify that you previously lived in it as your primary residence.
You must have made at least 6 consecutive, on-time monthly payments and be at least 210 days past your original loan closing.
Yes, but many borrowers choose to roll them into the loan or offset them with a slightly higher rate. The VA funding fee for a streamline is typically 0.5%, and disabled veterans are often exempt.
Credit score requirements are generally more relaxed for the IRRRL. Some lenders don’t require a credit check at all — but a stronger score may help with better rate options.
Most streamline refinances close in about 3 weeks or less, making it one of the fastest refinance options available.
