An Interest Rate Reduction Refinance Loan (IRRRL) can be used to refinance a property on which you have already used your Department of Veterans Affairs (VA) loan eligibility. With these loans, you can skip the appraisal and underwriting packages. You may also be able to roll fees into the loan, allowing for no out-of-pocket costs. Just be sure to do your homework, because terms can vary greatly between lenders. For more information, visit the Military.com VA home loans section.