VA IRRRL Rates USAA: How Much Can You Really Save?

If you are a veteran and looking to have your VA loan refinance, one option available for you is the VA Interest Rate Reduction Refinance Loan, or the VA IRRRL.

The VA IRRRL is a benefit you get as a veteran. Basically, it works like this: if you have a VA loan, you can refinance it to get lower interest rates via the IRRRL program. This means, if done right, you get to save money since you should be paying a lower rate for your mortgage. Applying for an IRRRL easy and fast; if you are a veteran and eligible for a VA loan, you should be eligible for an IRRRL.

There are many lenders that offer this program, including the USAA or the United Services Automobile Association, a group of companies that offers financial services to veterans and serving military members.

Want to check out VA IRRRL rates usaa to see if you can really save money from the program?

Current rates

For VA IRRRL rates, USAA offers a 3.375 percent rate for their 15-year fixed rate and a 3.625 percent rate for their 30-year fixed rate.

It would also allow you to refinance up to 100 percent of your home’s value, as well as finance the loan’s funding fee.

This program, the USAA claims, will save you money monthly. It also has lower closing cost, saying a USAA member can save up to over $2,700 when the program covers the fees (including the title and appraisal fees).

The USAA VA IRRRL also requires less paperwork. It has a simple process, which saves time and, essentially, money. Since the IRRRL program is a VA loan to VA refinance program, the requirements and paperwork are less stringent; there is no need for Certification of Eligibility, for instance. You will also not be required to submit appraisals, employment certifications, and income verification.


Of course, how much you will save is not just a matter of VA IRRRL rates USAA. It’s also a matter of how you manage your finances and how you look for lenders who can give you good rates.

Essentially, you need to assess if the difference is worth it. Since you will be refinancing the loan, you have to restart your mortgage. This means that while you have lower monthly payments, you may end up paying for the loan for a longer period of time.

The good thing about a VA IRRRL, however, is that it has a fixed rate, so the interest rate does not adjust overtime; you know how much you are paying for the duration of the loan.

There are, of course, other things to consider. The VA IRRRL program, for instance, has a funding fee (though that can be waived under certain circumstances). This fee can be included in the monthly payment of the new loan, which means it will be included in the interest rate as well. Changing the duration of the loan is also an important consideration as well.

But in any case, the VA IRRRL is an important benefit for veterans that can be used to make mortgages easier, simpler, and more affordable.
Know what you need to know about VA IRRRL rates usaa before signing up for one. Find out how much you can save at