Yes, by a wide margin, thanks to the VA Interest Rate Reduction Refinance Loan, the IRRRL. The IRRRL, often called a VA streamline, exists to let a veteran lower the rate on an existing VA loan with as little friction as possible. Under the VA's lender handbook (Pamphlet 26-7), a standard IRRRL requires no new appraisal and no income documentation or credit underwriting. Two exceptions trigger underwriting: the loan being refinanced is 30 or more days past due, or the new payment (PITI) would rise 20 percent or more. In the ordinary case, the main thing you need is a clean payment history on the current loan. Compare the alternatives. A conventional refinance is fully underwritten, with documented income, a fresh credit review, and usually an appraisal. Jumbo refinances run stricter still, with tighter reserve and documentation requirements because the loans are larger and sell to a smaller pool of investors. Non-QM loans sit outside the standard box and are underwritten case by case, which adds cost and time. The IRRRL sidesteps most of that. Two practical notes: - The IRRRL is a rate-reduction tool and cannot take cash out. The only cash-adjacent exception is financing energy-efficiency improvements, up to $6,000. Cash-out is a separate, fully underwritten VA program with an appraisal. - A VA funding fee applies, though the streamline tier is typically the lowest, and the loan generally has to produce a tangible benefit like a lower rate and payment. Program terms and lender overlays change, so confirm current VA requirements. If you hold a VA loan and rates have improved, price the IRRRL first.