By Ryan Singer, NMLS #1520306 · Updated October 22, 2026Straight answers to the questions veterans ask me most. Don't see yours? Call or text me anytime.
VA IRRRL vs. VA cash-out refinance
| VA IRRRL (streamline) | VA cash-out refinance | |
|---|---|---|
| Current loan | Must be a VA loan | VA, conventional, FHA or other |
| Cash to you | No (aside from limited items VA allows) | Yes, based on equity |
| Appraisal | Generally not required by VA | Required |
| Income / credit docs | Reduced; lender overlays may apply | Full documentation |
| Occupancy | Current or prior occupancy | Must live in the home |
| New COE | Usually not needed | Required (lender can often pull it) |
| VA funding fee* | 0.5% | 2.15% first use / 3.3% after |
| Seasoning (refinancing a VA loan) | Later of 210 days after the first payment due date or 6 monthly payments | |
*Per VA's funding fee chart (effective April 7, 2023). Exempt borrowers, including veterans receiving VA service-connected disability compensation, pay no funding fee.
Why work with Ryan Singer
I've been helping families finance homes since 2004, and I lend nationwide through Independence Home Loans (licensed in 46 states + DC). VA loans are the core of my business, but I work with every major program, so you get an honest comparison rather than a single product pitch. Expect plain-language explanations, written side-by-side options, and a loan officer who stays involved from application to closing. You can reach me directly at (602) 741-2370 or (480) 300-7769.
Frequently asked questions
Who is eligible for a VA home loan?
Eligibility generally depends on your length and character of service. Veterans, active-duty service members, National Guard and Reserve members, and some surviving spouses may qualify. Your Certificate of Eligibility (COE) confirms it, and I can usually request your COE electronically.
What is a VA IRRRL?
An Interest Rate Reduction Refinance Loan (IRRRL), or VA streamline, refinances an existing VA-backed loan into a new VA loan to lower the rate or move from an adjustable to a fixed rate. VA generally doesn't require a new appraisal or full credit underwriting, though lenders may have their own requirements.
How soon can I refinance my VA loan?
Your current VA loan must be seasoned. That means the later of 210 days after the first payment due date, or six consecutive monthly payments made.
What is the VA funding fee and who is exempt?
It's a one-time fee paid to VA, either at closing or financed. Under VA's current chart it's 0.5% for an IRRRL and 2.15% (first use) or 3.3% (after first use) for a cash-out refinance. Veterans receiving or eligible for VA compensation for a service-connected disability, surviving spouses receiving DIC, and certain others are exempt.
Can I refinance a conventional or FHA loan into a VA loan?
Yes. That's done with a VA cash-out refinance, which can be used even if you aren't taking cash out. Moving from FHA or a conventional loan with mortgage insurance into VA can remove monthly mortgage insurance.
Do VA loans have mortgage insurance?
VA loans don't have monthly mortgage insurance. Instead, most borrowers pay the one-time VA funding fee unless they're exempt.
Does checking my options hurt my credit?
Talking through options and reviewing your mortgage statement doesn't affect your credit. A formal application typically includes a credit check, and I'll tell you before that happens.
Is Ryan Singer or Independence Home Loans part of the VA?
No. Independence Home Loans is a private mortgage lender. We are not affiliated with or endorsed by the Department of Veterans Affairs or any government agency. VA guarantees part of the loan, which a private lender makes.
Can I use my VA loan benefit more than once?
Yes. VA entitlement can be reused. It's often restored when a prior VA loan is paid off, and in some cases you can have more than one VA loan at a time if you have remaining entitlement.
Can I get a VA loan for a rental property?
VA purchase and cash-out loans require that you live in the home. An IRRRL only requires that you certify you lived there in the past, so it can work on a former home you now rent out.