GMAC VA IRRL Refinance: Does It Exist?

Is there such as thing as the GMAC VA IRRL streamline refinance program?

Yes and no.

There is such a thing as the VA IRRL streamline refinance program and many Veterans who have VA mortgages are taking advantage of the program to lower their monthly mortgage payment and save thousands on their overall interest payments by lowering their interest rate.

But no, it is not specific to only those VA loans who currently make their mortgage payment to GMAC (or any other lender for that matter). So if you are currently with GMAC and you are wondering if there is such a thing as the GMAC (only) VA IRRL program – the good news is you can shop around with multiple VA IRRL lenders.

The IRRL program was designed to allow Veterans with VA loans to lower their interest rate (when interest rates are low) with the least possible documentation. In many cases, there is no appraisal required, no employment verification or credit score required – although these can vary by lender.

That is why when it comes to the VA IRRL streamline program, the best possible thing that you can do is to shop around and get multiple quotes from multiple lenders who can help you with the VA IRRL program. Each lender may have slightly different requirements and will have different rates and fees along with different turn times. You won’t be able to know a “good” deal from a “bad” deal unless you speak with multiple lenders who can help you and explain to you why they are the best lender to choose from.


Sometimes the confusion happens when Veterans first hear about the VA IRRRL program at a particular lender (such as GMAC) and they think that the particular lender where they heard it is the only lender where the program can happen.

But the VA IRRRL program is one that most any lender who is VA approved can help you refinance in the IRRL program and you will be just fine. In fact, because there are so many lenders who can do the VA IRRRL loan, it makes sense to shop among various lenders who can possibly help you and find out who can give you the best deal on the VA IRRRL loan that you are seeking.

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