IRRRL, VA cash-out or leaving VA: choosing your refinance path
Refinancing a former home
At the fork
An IRRRL needs only that you once lived in the home, so it can work after you move out. A cash-out refinance requires that you live there now. If you rent out a former home, ask a lender which option your situation allows.
Last reviewed against the primary sources listed below.
Compare
| IRRRL | Cash-out | |
|---|---|---|
| Occupancy | Previously lived there | Live there now |
| Paperwork | Streamlined | Full |
Choosing a path
Can I do an IRRRL on a rental?
Yes, if you previously lived in the home.
Can I do a VA cash-out on a rental?
No. You must live in the home.