15+ years of experience
20,000+ total loans closed
2,000+ veterans helped
1.844.DSLD.MTG
LOGIN
dsld mortgage logo

VA IRRRL Calculator

Lower payments could be closer than you think. Use our VA IRRRL Calculator to quickly estimate your savings and see the long-term benefits of refinancing your VA loan.

Enter your current VA loan's balance
$
Choose new loan terms to calculate your new VA payment
%
VA Funding Fee
Tax & Insurance
2.0%
$
1.0%
$
VA IRRRL Payment
$1500
  • Principal & Interest
    $1000
  • Property Tax
    $500
  • Home Insurance
    $500
VA Loan
$200000
  • Base VA Loan
    $200000
  • VA Funding Fee
    $0

Important Note: This calculator is designed for VA IRRRL Loans, which do not allow cash out. If you’re looking to access your home equity, check out our VA Cash Out Refinance Calculator for more information.

Start your VA IRRRL Loan Application Today

What Is a VA IRRRL?

The VA Interest Rate Reduction Refinance Loan (IRRRL), also known as the VA Streamline Refinance, is a specialized refinancing program designed to make it easier for veterans to refinance their existing VA Loans.

Refinancing a VA Loan with an IRRRL

The IRRRL makes refinancing easier with: 
• Simplified Paperwork: Less documentation than a traditional refinance 
• No Appraisal Needed: Most loans don’t require a new home appraisal 
• Faster Closings: Get through the process more quickly and with less hassle

VA IRRRL Requirements

To qualify for a VA IRRRL (Interest Rate Reduction Refinance Loan), you’ll generally need to meet the following criteria: 

  • You currently have a VA Loan
    Your existing mortgage must be a VA-backed loan in good standing, with on-time payments. 
  • You live in the home
    You must certify that you currently occupy the property as your primary residence. 
  • You gain a clear financial benefit
    The refinance must provide what’s called a “net tangible benefit.” This could include: 

    • A lower interest rate 
    • Reduced monthly mortgage payments 
    • Switching from an adjustable-rate to a fixed-rate mortgage for more stability 

About the VA IRRRL Calculator

See your potential savings in seconds with our VA IRRRL Calculator. Add your loan info, try out different interest rates or loan terms, and find out how refinancing could lower your monthly payments.

How Does the VA IRRRL Loan Calculator Work?

This user-friendly tool requires a few simple inputs: 

  • Your current VA Loan balance 
  • The interest rate and loan term you’re considering for your new VA Loan 
  • Whether you’re eligible to waive the VA Funding Fee 
  • Estimated property taxes and homeowner’s insurance costs. 

Once you input these details, the calculator will instantly generate your estimated new monthly payment, potential savings, and overall loan costs.

Enter Your Current VA Loan’s Balance

This refers to the total amount you still owe on your existing VA Loan, not including any interest or fees. You can usually find this information on your most recent mortgage statement.

Choose New Loan Terms to Calculate Your New VA Payment

Here, you’ll input the interest rate and loan term (e.g., 15 years, 30 years) that you’re considering for your VA IRRRL.  Explore different combinations to see how they impact your potential new monthly payment.

VA Funding Fee

The VA Funding Fee is a one-time fee that helps support the VA Loan program. However, certain veterans and service members may qualify to have this fee waived.  Check this box if you believe you qualify for the exemption.

Tax and Insurance

Property taxes and homeowner’s insurance are typically included in your monthly mortgage payment.  Use the sliding scales to estimate your annual costs for each. These estimates will help the calculator provide a more accurate picture of your potential new monthly payment.

How Much House Can I Afford with a 120k Salary

Why Should I Use the VA IRRRL Calculator?

Our VA IRRRL Calculator provides a quick and easy way to estimate your potential savings by refinancing your VA Loan. It helps you explore different interest rates and loan terms to see how they impact your monthly payment, allowing you to make informed decisions about your refinance.

Can the Calculator Estimate My Funding Fee?

Yes, the calculator includes a section for the VA Funding Fee. If you’re eligible for a waiver, you can check the box to see how it affects your overall costs. If not, the calculator will factor in the standard funding fee based on your loan details.

What Costs Can I Expect When Refinancing with a VA IRRRL?

While the VA IRRRL is known for its streamlined process, there may still be some closing costs involved. These can include the VA Funding Fee (if applicable), origination fees, title insurance, and recording fees. The exact costs can vary, so it’s important to discuss them with your lender.

How Accurate Is the VA IRRRL Calculator?

Our calculator provides estimates based on the information you provide. While it’s a helpful tool for exploring your refinancing options, it’s important to remember that the actual costs and savings may differ slightly. We recommend contacting one of our Loan Officers for a personalized quote and a more precise understanding of your potential savings.

Discover More Financial Tools

Our range of mortgage calculators allows you to make informed choices every step of the way. Whether you’re a first-time homebuyer, a veteran exploring VA Loan benefits, or a military member planning your housing budget, our calculators provide valuable insights and help you plan for a successful future.  Explore the options below and take control of your financial journey today.

Conventional Mortgage Calculator

  • Quickly compare different loan scenarios and see how interest rates, down payments, and loan terms affect your monthly payments.
  • Get a clear picture of your potential housing costs, including principal, interest, taxes, and insurance.
  • Make confident choices about your home purchase by understanding the financial implications upfront.
Mortgage Calculator

VA Loan Calculator

  • Specifically designed to help Veterans and active-duty service members estimate their VA Loan eligibility and potential benefits.
  • For accurate calculations, factor in unique VA Loan features, like the funding fee and no-down payment options.
  • Understand how different loan scenarios impact your VA Loan affordability and make the most of your military benefits.
VA Loan Calculator

BAH Calculator

  • Designed for military personnel to estimate their Basic Allowance for Housing (BAH) based on their rank, location, and dependents.
  • Stay informed about your housing allowance and plan your budget accordingly.
  • Quickly access your BAH information and make informed decisions about your housing options.
BAH Loan Calculator

Ready to Lower Your Monthly Payments?

Our VA IRRRL calculator has shown you the potential savings. Now take the next step toward a more affordable mortgage. Refinance your VA Loan today and enjoy the benefits of lower interest rates and reduced monthly payments.

Ready to Lower Your Monthly Payments?

Our VA IRRRL calculator has shown you the potential savings. Now take the next step toward a more affordable mortgage. Refinance your VA Loan today and enjoy the benefits of lower interest rates and reduced monthly payments.