What is the VA funding fee for 2026?

The VA funding fee for first-time use with 0% down is 2.15% of the loan amount. With 5% down it drops to 1.50%. With 10% down it drops to 1.25%. Subsequent use with 0% down is 3.30%. Veterans with 10% or greater service-connected disability, Purple Heart recipients on active duty, and eligible surviving spouses are exempt from the funding fee entirely.

Why does the VA loan show no mortgage insurance?

VA loans do not require monthly mortgage insurance, which is one of the biggest savings versus conventional and FHA loans. The one-time VA funding fee (which can be rolled into the loan) replaces ongoing mortgage insurance entirely.

What DTI limit does PBT Bancorp use for VA loans?

PBT Bancorp allows debt-to-income ratios up to 55% for borrowers with credit scores of 640 or higher, and up to 50% for credit scores under 640. Borrowers above these thresholds should call PBT at 800-697-4371 for a personalized assessment.

VA IRRRL Florida | Streamline Refinance

VA IRRRL Streamline Refinance in Florida

If you already have a VA loan on a Florida home, the VA IRRRL (sometimes known as a VA streamline refinance) is the simplest way to lower your rate and your monthly payment. There is no appraisal, no income verification, and with our No Score program no minimum credit score, so a lot of Florida veterans can refinance even when a regular loan would turn them away.

Start Your IRRRL Today Call 800-697-4371

Licensed in all 50 states
PBT Bancorp NMLS# 257781

Florida veteran couple smiling after lowering their monthly payment with a VA IRRRL streamline refinance from PBT Bancorp

No AppraisalNone required on a VA IRRRL streamline refinance

No Income DocsNo income or asset verification to qualify

No ScoreOur No Score IRRRL has no minimum credit score

2 to 3 WeeksTypical closing time, faster than most lenders

What is a VA IRRRL, and why do Florida veterans use it?

A VA IRRRL is a streamline refinance that swaps your current VA loan for a new VA loan at a lower rate, with far less paperwork than a normal refinance. There is no appraisal, no income verification, and no asset verification, so it is built to move fast. Florida carries one of the largest military and veteran populations in the country, from NAS Pensacola, Eglin Air Force Base, and Hurlburt Field across the Panhandle, to MacDill Air Force Base in Tampa, NAS Jacksonville and Naval Station Mayport on the First Coast, Patrick Space Force Base on the Space Coast, Homestead Air Reserve Base south of Miami, and NAS Key West.

Many of those veterans and active-duty families bought over the last few years when rates were higher, so when rates ease off, an IRRRL is the easiest way to pull the payment back down. You keep the same VA benefit you already earned, just on better terms.

American flag flying outside a Florida suburban home owned by a veteran refinancing with a VA IRRRL streamline refinance through PBT Bancorp

The benefits of a Florida VA streamline refinance

The IRRRL is the most streamlined loan the VA offers, and for almost all Florida veterans it is the lowest-friction way to improve a loan they already carry. Here is where it does the most good.

A lower rate and payment

The whole point of an IRRRL is to drop your interest rate, which lowers your monthly payment and keeps more of your money with your family every month.

No appraisal, no income docs

With no appraisal and no income or asset verification, a soft Florida market or a recent change in your paycheck does not get in the way, which is also why it closes so quickly.

No monthly mortgage insurance

Like every VA loan, there is no monthly mortgage insurance on an IRRRL, so none of your savings gets quietly eaten back up by a PMI line.

Move from an ARM to a fixed rate

If you are sitting on an adjustable-rate VA loan, an IRRRL can lock you into a fixed rate so your payment stops moving every time the market does.

Who qualifies for a VA IRRRL in Florida?

The IRRRL is for veterans and active-duty service members who already have a VA loan. The requirements are light, and our No Score program opens it up to borrowers most lenders would turn down.

You currently have a VA loan on the Florida home you are refinancing
You occupied the home at some point, even if you have since moved or received PCS orders
The refinance gives you a real benefit, usually a lower rate and payment, or a move from an adjustable to a fixed rate
For our No Score program, no minimum credit score is required, only that you have been no more than 1x 30 days late in the past 12 months

Estimate your Florida IRRRL savings

Use the calculator below to see what a lower rate would do to your payment. Put in your current VA loan balance and rate, then a realistic new rate, and it will estimate your monthly savings and how long it takes to break even. These are estimates, so a dedicated VA specialist will confirm the real numbers for your file.

VA IRRRL Savings Calculator

Estimate the monthly savings and break-even on a VA IRRRL streamline refinance in Florida.

What an IRRRL might save a Florida veteran

This is only an example, but it shows how the savings stack up. Say you have a $360,000 VA loan on a home in the Tampa area, where the typical home value sits around $407,000, while Jacksonville runs closer to $294,000 and the Pensacola market around $269,000, and you are stuck at a higher rate from a few years back.

Current VA loan balance$360,000

Current rate6.5%

New rate5.25%

Estimated monthly savingsAbout $288 a month

That is roughly $3,450 a year back in your budget. Your actual savings depend on your balance, your current rate, the new rate, and the small costs rolled into the loan, which is exactly what we will run for you. The VA funding fee on an IRRRL is a flat 0.50%, and it is waived for veterans with a 10% or greater service-connected disability.

Florida property taxes and the disabled veteran exemption

Here is something a lot of Florida veterans miss on a refinance. Your property taxes are built into your monthly payment through escrow, so any exemption you qualify for pulls that payment down. Florida fully exempts the homestead of a veteran rated 100% permanent and total from a service-connected disability, with no cap on the home value and no income test, and an unremarried surviving spouse keeps it. Veterans with a service-connected disability of 10% or more also get an additional $5,000 exemption. We make sure your new IRRRL escrow reflects whatever exemption you already carry.

How the VA IRRRL process works

We have streamlined our side of the loan too, so for almost all Florida veterans this turns out to be the easiest mortgage they have ever done.

Quick qualification

We confirm you qualify upfront, often in about 15 minutes, and we send your initial disclosures. There is no appraisal to schedule and no income to document.

We shop your rate

We have access to over 35 wholesale lenders, so we work to find you the best rate available rather than the single rate one lender happens to offer.

Simple paperwork

We typically only need your current mortgage statement, your driver’s license, and your homeowners insurance, and we handle the VA side for you.

Close in 2 to 3 weeks

Most IRRRLs close in 2 to 3 weeks, and depending on your timeline faster if you need it, with your new lower payment starting on the next cycle.

Why work with PBT Bancorp

Our team has decades of experience working with veterans and has helped over 3,000 families refinance and save money or buy a home. On a streamline refinance, the difference between lenders comes down to the rate they can find you and whether they can close you at all.

Active-duty service member standing in front of a Florida home after a VA IRRRL streamline refinance with PBT Bancorp

We are an FDIC member bank and a wholesale broker, so we shop your loan across our network of over 35 wholesale lenders for the best rate
Our No Score IRRRL lets us close loans that most other lenders cannot, with no minimum credit score required
We pull your Certificate of Eligibility (COE) and handle the VA paperwork for you
You work with a dedicated VA specialist from start to finish
We close most loans in 2 to 3 weeks instead of the 30 plus days you often see at larger lenders

Weighing your other options too? See our VA IRRRL overview, the VA cash-out refinance if you want to tap equity, or our VA purchase loans in Florida if you are buying, and browse all of our VA loan programs.

Florida VA IRRRL questions

Do I need an appraisal for a VA IRRRL in Florida?

No, an appraisal is not required on a VA IRRRL. As long as you have an existing VA mortgage, we can refinance it without ordering an appraisal, which matters in a Florida market where values can swing from one neighborhood to the next.

Can I refinance a Florida condo with a VA IRRRL?

Yes, in most cases. If your current VA loan is on a condo, the IRRRL streamlines it the same way it would a single-family home, and because there is no appraisal we do not have to re-run the condo project approval that a purchase or cash-out loan would require, which keeps a lot of Florida condo refinances simple.

What credit score do I need to refinance?

With our No Score IRRRL program there is no minimum credit score required. The only requirement is that you have been no more than 1x 30 days late on your mortgage in the past 12 months, which lets us help Florida veterans that most lenders would turn away.

Will my homeowners or flood insurance affect the IRRRL?

Your insurance does not change your eligibility for the IRRRL, but Florida coverage matters because the new loan needs an active homeowners policy in place, and flood insurance where your home sits in a flood zone. We simply collect your current policy as part of the file, and if your premium has climbed your loan officer can walk through how the escrow side looks.

Can I still refinance if I got PCS orders and left my Florida home?

Yes, in most cases. The VA IRRRL only requires that you occupied the home at some point, so if you bought near MacDill, NAS Jacksonville, or Eglin and have since received PCS orders or turned the place into a second home, you can usually still streamline the loan on that property.

Does the VA funding fee apply to an IRRRL?

Yes, the VA funding fee on an IRRRL is a flat 0.50% of the loan, much lower than a purchase, and it is waived entirely for veterans with a 10% or greater service-connected disability.

How long does it take to close in Florida?

Most of our IRRRLs close in 2 to 3 weeks from start to finish, and faster if your timeline calls for it, since there is no appraisal or income review to wait on.

Ready to lower your Florida VA payment?

Tell us your current rate and balance and we will show you what an IRRRL would save you, with no appraisal, no income docs, and no pressure. Give us a call at 800-697-4371 or start online and put your VA benefit back to work.

Start Your VA IRRRL

Page last reviewed: June 6, 2026. Market data refreshed monthly. Loan limits and tax rates verified against 2026 county records.