VA IRRRL Rates
How should you compare VA IRRRL rates?
Compare more than the interest rate. A useful VA IRRRL comparison includes the rate, APR where applicable, points, lender credits, closing costs, VA funding fee treatment, new principal balance, monthly principal-and-interest payment and expected break-even period. The lowest rate can be more expensive if it requires substantial upfront points.
Why IRRRL rates vary
Mortgage pricing changes with the market and can also vary based on loan characteristics, lender pricing, lock period and lender overlays. Because rates are time-sensitive, this page does not publish a static “today’s rate” that could become misleading.
Rate vs. lender credits
A borrower can sometimes choose a higher rate with lender credits to reduce upfront costs. This can make sense for a shorter expected holding period. A lower rate with more points may work better for a borrower who expects to keep the loan for many years.
Rate vs. total savings
A rate reduction is only one part of the decision. Compare the new balance and costs with the expected monthly savings. See VA IRRRL break-even and VA IRRRL savings.
Questions to ask when comparing offers
- How many points are included?
- Are there lender credits?
- What is the new loan balance?
- What is the principal-and-interest payment?
- Which costs are financed?
- How long will it take to recover the costs?
Also review IRRRL closing costs and the master VA IRRRL guide.
Compare a live IRRRL quote
Current pricing must be reviewed at the time of application or quote.
Request a VA refinance reviewNo rate is quoted or guaranteed on this page. Rates and pricing change and depend on the transaction. 360 Mortgage Inc. NMLS ID 80777.