# Loan Guaranty: Requirements for Interest Rate Reduction Refinancing Loans
> **US Department of Veterans Affairs** · Interim final rule. · Published 1997-10-08 · Effective 1997-10-08 · 62 FR 52503
## Document
- **Document number:** 97-26614
- **Category:** va-home-loan
- **Agency:** US Department of Veterans Affairs
- **Federal Register citation:** 62 FR 52503
- **CFR reference:** 38 CFR 36
- **Publication date:** 1997-10-08
- **Effective date:** 1997-10-08
## Abstract

This document amends the Department of Veterans Affairs (VA) loan guaranty regulations concerning the requirements for Interest Rate Reduction Refinancing Loans (IRRRLs) by generally limiting these loans to instances where the veteran's monthly mortgage payment will decrease, and by generally requiring that the loans being refinanced be current in their payments. This action is necessary to ensure that these loans are made only when they provide a real benefit to the veteran, and to protect the financial interest of the Government.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1997/10/08/97-26614/loan-guaranty-requirements-for-interest-rate-reduction-refinancing-loans)
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