Does a VA IRRRL require an appraisal?
Usually no. IRRRL streamline refinances commonly skip the new appraisal because the loan is already VA-insured. The lender uses the prior file's value or an automated valuation model in some cases.
What this actually means.
Most IRRRLs run without a new appraisal — that's a core simplification of the program. Some lender overlays still require an appraisal for risk management, particularly on files with prior delinquency or value concerns. Manufactured-home IRRRLs and certain other property types may also trigger an appraisal. Subject to VA guidelines and lender overlays.
Where this can move.
VA seasoning rules, net-tangible-benefit recoupment, current loan type, equity, credit, rate environment, and IRRRL vs cash-out eligibility can change the answer.
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Educational only. VA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with the VA, HUD, or any government agency.