Home Loans Arizona - California - Nevada - Utah

VA IRRRL refinance loan program Tucson AZ stands for Interest Rate Reduction Refinancing Loan. You may also see it referred to as a “VA Streamline”. It is used to refinance an existing VA guaranteed loan to reduce the interest rate or to refinance an adjustable rate mortgage (ARM) to a fixed rate. 


VA IRRRL in Tucson AZ Facts


  • No appraisal or credit underwriting package is required when applying for an IRRRL.
  • An IRRRL may be done with "no money out of pocket" by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.
  • When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase.
  • No lender is required to give you an IRRRL, however, any VA lender of your choosing may process your application for an IRRRL.
  • Veterans are strongly urged to contact several lenders because terms may vary.
  • You may NOT receive any cash from the loan proceeds.


VA IRRRL in Tucson AZ Loan Limits


VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability VA can assume, which usually affects the amount of money an institution will lend you. The loan limits are the amount a qualified Veteran with full entitlement may be able to borrow without making a down payment. These loan limits vary by county, since the value of a house depends in part on its location.


The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to four times a Veteran's available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price. See Loan Limits for more information about the limits in your county.


VA IRRRL in Tucson AZ, What are the requirements?


The loan you are refinancing must have been guaranteed using your VA entitlement. The new loan will re-use the entitlement you originally used. A

Certificate of Eligibility is not required. Your lender can verify your previous loan information by using our automated system.


No appraisal or credit underwriting is required by VA. However, you should be aware that some lenders may require them anyway.


Also, the occupancy requirement is different from other VA loans. When you originally obtained your VA loan, you certified that you occupied or

intended to occupy the home. For an IRRRL, you only need to certify that you previously occupied it. 


Closing costs normally associated with an Interest Rate Reduction Refinance Loan (IRRRL)


  • Origination Fee *
  • Discount Points
  • Prepaid Taxes and Hazard Insurance
  • Title Examination Fee
  • Title Insurance Fee
  • Flood Zone Determination
  • Environmental Endorsements
  • Recording Fees
  • Special Mailing Fees (Example: Fed-Ex or Courier Fees)
  • VA Funding Fee
Posted by Nathan Rufty on December 26th, 2019 10:24 AM



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