12 Best VA Mortgage Lenders for Streamline Refinance (IRRRL) of 2022
These lenders are all experts at VA loans and among the best for a VA streamline refinance, or IRRRL.
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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.
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.
Best VA Mortgage Lenders for Streamline Refinance (IRRRL)
Lender | NerdWallet rating | Min. credit score | Min. down payment | Learn more |
---|---|---|---|---|
New American Funding: NMLS#6606 Learn more at New American Funding | Best for rate transparency | 580 | 0% | Learn more at New American Funding |
![]() Veterans United: NMLS#1907 Learn more at Veterans United | Best for specializing in VA loans | 620 | N/A | Learn more at Veterans United |
![]() Rocket Mortgage, LLC: NMLS#3030 Learn more at Rocket Mortgage, LLC | Best for variety of VA loans | 620 | N/A | Learn more at Rocket Mortgage, LLC |
NBKC: NMLS#409631 Learn more at NBKC | Best for specializing in VA loans | 640 | 0% | Learn more at NBKC |
![]() NASB: NMLS#400039 Learn more at NASB | Best for VA loans overall | 640 | 0% | Learn more at NASB |
![]() Pennymac: NMLS#35953 Learn more at Pennymac | Best for variety of VA loans | 620 | 0% | Learn more at Pennymac |
![]() BNC National Bank: NMLS#418467 Learn more at BNC National Bank | Best for low VA origination fees | 640 | 0% | Learn more at BNC National Bank |
![]() Network Capital: NMLS#11712 Learn more at Network Capital | Best for low VA origination fees | 640 | 0% | Learn more at Network Capital |
![]() Guaranteed Rate: NMLS#2611 Learn more at Guaranteed Rate | Best for variety of VA loans | 600 | N/A | Learn more at Guaranteed Rate |
![]() PenFed: NMLS#401822 | Best for ease of application | N/A | 0% | Read review |
![]() Carrington: NMLS#2600 | Best for rate transparency | 500 | 0% | Read review |
![]() Flagstar: NMLS#417490 | Best for ease of application | 660 | 0% | Read review |
at New American Funding
New American Funding: NMLS#6606
Min. credit score
580Min. down payment
0%at New American Funding

at Veterans United
Veterans United: NMLS#1907

Min. credit score
620National / regional
Nationalat Veterans United

at Rocket Mortgage, LLC
Rocket Mortgage, LLC: NMLS#3030

Min. credit score
620National / regional
Nationalat Rocket Mortgage, LLC

at Pennymac
Pennymac: NMLS#35953

Min. credit score
620Min. down payment
0%at Pennymac

at BNC National Bank
BNC National Bank: NMLS#418467

Min. credit score
640Min. down payment
0%at BNC National Bank

at Network Capital
Network Capital: NMLS#11712

Min. credit score
640Min. down payment
0%at Network Capital

at Guaranteed Rate
Guaranteed Rate: NMLS#2611

Min. credit score
600National / regional
Nationalat Guaranteed Rate
PenFed: NMLS#401822

Min. credit score
N/AMin. down payment
0%Carrington: NMLS#2600

Min. credit score
500Min. down payment
0%Flagstar: NMLS#417490

Min. credit score
660Min. down payment
0%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 April 4, 2022
Methodology
The star ratings on this page reflect each lender's rating for VA products. Read more about how we determine those ratings.
The lenders on this page are chosen using this methodology:
NerdWallet reviewed nearly 60 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (lenders had to have at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.
For inclusion on this roundup, lenders must score a 3.5 or above according to our VA loan methodology and offer IRRRLs.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2020 HMDA data for origination volume, origination fee, rate spread and share-of-product data.
To recap our selections...
NerdWallet's Best VA Mortgage Lenders for Streamline Refinance (IRRRL) of 2022
- New American Funding: Best for rate transparency
- Veterans United: Best for specializing in VA loans
- Rocket Mortgage, LLC: Best for variety of VA loans
- NBKC: Best for specializing in VA loans
- NASB: Best for VA loans overall
- Pennymac: Best for variety of VA loans
- BNC National Bank: Best for low VA origination fees
- Network Capital: Best for low VA origination fees
- Guaranteed Rate: Best for variety of VA loans
- PenFed: Best for ease of application
- Carrington: Best for rate transparency
- Flagstar: Best for ease of application