VA IRRRL
Basics
A VA Interest Rate Reduction Refinance Loan (IRRRL) can be used to lower your monthly payment with a lower interest rate or give your loan more stability by switiching from an Adjustable Rate Mortgage (ARM) to a Fixed Rate product.
This loan is often referred to as a "streamline" refinance because the process can be a little quicker than a VA purchase or conventional refinance.