The VA IRRRL (Interest Rate Reduction Refinance Loan) is the VA's streamline refinance for an existing VA loan, and it is deliberately light: in the ordinary case, no appraisal and no income or employment documentation. That is per VA guidelines, and it is what makes the true no-doc, no-appraisal version possible. Underwriting only comes into play in narrow exceptions, such as a loan that is behind on payments or a payment that would increase sharply. Some lenders historically layered on overlays like requiring a valuation (a holdover from the 2008 downturn, when they wanted to confirm a home was not badly underwater), but few still do, so most eligible borrowers can get a genuine streamline. Zero-cost is easier here than on a normal refinance for the same reason. With no appraisal and discounted underwriting and processing fees, a small lender credit can cover all the closing costs. As an illustration only: on a loan around $400,000 with roughly a couple thousand dollars in costs, taking a rate about an eighth of a point above the lowest available option can generate enough credit to pay those costs, with nothing added to your balance. The exact figures move with loan size and lender, so confirm current VA requirements and get your own quote. On the term, you are not forced to reset to a fresh 30 years, and by default we would rather you did not. You can choose a shorter term that matches the payoff schedule you are already on. The trade-off is straightforward: a full 30-year term gives the lowest possible payment, while matching your remaining term keeps you on track to own the home outright when you originally planned. Resetting can be a valid choice, but make it on purpose, not by default.