Residential · Calculator
Streamline Refinance
VA IRRRL or FHA Streamline — savings, full closing-cost build-up, funding fee or UFMIP refund, and break-even months.
Streamline program
Current VA Loan
New Loan
Payoff Items
Per-diem to closing date.
Statement, recording, etc.
Closing Costs
Lender admin / underwriting / processing.
Negative = lender credit.
New Escrow Setup
Months held in new escrow.
Monthly Savings (P&I)
$213.15
Recoup 13.7 months (closing + funding fee)
Current vs New
Current
$3,306.85/mo
6.5% · $523,180
Total $3,457.85 w/ tax+ins
New
$3,093.70/mo
5.75% · $530,132
Total $3,244.70 w/ tax+ins
Payoff Build-Up
Costs Added to New Loan
Recoup
Frequently asked
About this calculator.
What is a VA IRRRL?
Interest Rate Reduction Refinance Loan — VA's streamline refi for borrowers with an existing VA loan. No appraisal, no income docs, no DTI test (in most cases). Funding fee is just 0.5% (vs. 2.15% on a VA purchase). The lowest-friction refi product in mortgage lending.
What is an FHA Streamline?
FHA's equivalent streamline product for borrowers with an existing FHA loan. No appraisal, no income docs. The trade-off is that a new UFMIP (1.75% upfront) is required — but you typically get a partial refund of your original UFMIP if you're within 36 months of the original closing.
How is the new loan amount calculated on FHA Streamline?
HUD requires the lesser of two calculations: (1) current balance + accrued interest + late charges + escrow shortage + 2 months prorated MIP minus the UFMIP refund, OR (2) original loan amount minus the UFMIP refund. Both are shown above so you can see which one binds.
What is the UFMIP refund schedule?
HUD's declining schedule from Mortgagee Letter 2014-04: 80% refund in month 1, 78% in month 2, declining 2% each month down to 10% in month 36. After month 36, no refund. The earlier you streamline, the more of your original UFMIP comes back.
When does a streamline refi NOT make sense?
When the rate improvement is small (under ~0.5%) and the closing costs + funding fee / UFMIP outweigh the monthly savings recouped over the time you plan to keep the loan. The "recoup months" output above is the honest answer — anything past 60 months is usually a no.
Streamlines close fast
21 days, often less.
Both VA IRRRL and FHA Streamline route around the slowest parts of a typical refi. Send us your most recent statement — we\u2019ll quote your scenario against today's rate sheet.
Prefer to talk first? Call (707) 583-3666