BEST OF
9 Best VA Mortgage Lenders for Streamline Refinance (IRRRL) of 2021
These lenders are all experts at VA loans and among the best for a VA streamline refinance, or IRRRL, in 2021.
The VA's IRRRL — Interest Rate Reduction Refinance Loan — is loved by military borrowers for its easy efficiency. It's also called a "VA streamline refinance" because of its stripped-down processing requirements: No appraisal is needed, and underwriting is simplified.
Shop around when looking for an "Earl" — VA lenders vary in requirements and costs. Here are lenders that excel at IRRRL refinancing in five key ways.
The VA's IRRRL — Interest Rate Reduction Refinance Loan — is loved by military borrowers for its easy efficiency. It's also called a "VA streamline refinance" because of its stripped-down processing requirements: No appraisal is needed, and underwriting is simplified.
Shop around when looking for an "Earl" — VA lenders vary in requirements and costs. Here are lenders that excel at IRRRL refinancing in five key ways.
Summary of Best VA Mortgage Lenders for Streamline Refinance (IRRRL) of 2021
Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
---|---|---|---|---|
Best for online experience | 620 | 0% | at Quicken Loans | |
Best for overall | 600 | 0% | at Guaranteed Rate | |
Best for online experience & customer service | 640 | 0% | at Fairway Independent Mortgage | |
Best for overall | 660 | 0% | at Veterans United | |
Best for customer service | 660 | 0% | Read review | |
Best for traditional banking lender | 640 | 0% | at New American Funding | |
Best for traditional banking lender | N/A | 0% | Read review | |
Best for low-credit-score borrowers | N/A | 0% | Read review | |
Best for low-credit-score borrowers | N/A | 0% | Read review |
at Quicken Loans
Quicken Loans: NMLS#3030
Min. Credit Score
Min. Down Payment
at Quicken Loans
at Guaranteed Rate
Guaranteed Rate: NMLS#2611

Min. Credit Score
National / Regional
at Guaranteed Rate
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289

Min. Credit Score
Min. Down Payment
at Fairway Independent Mortgage
at Veterans United
Veterans United: NMLS#1907

Min. Credit Score
National / Regional
at Veterans United
Veterans First Mortgage: NMLS#449042

Min. Credit Score
Min. Down Payment
at New American Funding
New American Funding: NMLS#6606
Min. Credit Score
Min. Down Payment
at New American Funding
Citibank: NMLS#412915

National / Regional
Min. Down Payment
Navy Federal: NMLS#399807

National / Regional
Min. Down Payment
Alterra: NMLS#133739

Min. Credit Score
Min. Down Payment
More from NerdWallet:
VA IRRRL Refinance FAQ
What is a VA IRRRL?
A VA Interest Rate Reduction Refinance Loan (IRRRL) lets eligible borrowers refinance a VA loan quickly and easily. Nicknamed the “VA streamline” loan, an IRRRL’s attractions include a stripped-down approval process, lower fees and no appraisal.
With a VA IRRRL refinance, you can add the closing costs to your loan balance or accept a higher interest rate to pay for them.
How can you use a VA IRRRL?
An IRRRL can be used only to refinance from a VA loan to a VA loan. Taking cash out is generally not allowed, with an exception, which we explain below.
Borrowers typically must use an IRRRL to reduce their monthly mortgage payments or lower the mortgage interest rate. But here’s another quirk: It’s OK to bump up your interest rate when converting an adjustable-rate VA mortgage to a fixed-rate IRRRL.
» MORE: What to know about VA loans
Who is eligible for a VA IRRRL?
Here’s what it takes to be eligible for an IRRRL:
You’re an active-duty member of the military, reserve or National Guard, or a veteran or surviving spouse.
You’ve served for a minimum length of time without dishonorable discharge.
You meet the lender’s minimum credit score requirement and certify that you’ve previously lived in the house.
Can you get cash out with a VA streamline refinance?
In one case only. You may be able to get a limited amount of cash for making energy-efficient improvements to the home. You may need to get a home energy audit to show the investment will lower your utility costs.
» MORE: Cash-out refinance pros and cons
Last updated on January 21, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best VA Mortgage Lenders for Streamline Refinance (IRRRL) of 2021
- Quicken Loans: Best for online experience
- Guaranteed Rate: Best for overall
- Fairway Independent Mortgage: Best for online experience & customer service
- Veterans United: Best for overall
- Veterans First Mortgage: Best for customer service
- New American Funding: Best for traditional banking lender
- Citibank: Best for traditional banking lender
- Navy Federal: Best for low-credit-score borrowers
- Alterra: Best for low-credit-score borrowers