VA Form 26-8923: Interest Rate Reduction Refinancing Loan Worksheet

VA Form 26-8923 is the U.S. Department of Veterans Affairs Interest Rate Reduction Refinancing Loan Worksheet. A note on the form says to submit it when requesting guaranty on an Interest Rate Reduction Refinancing Loan. It is completed by the lender: it ends with the date, the name of the lender and the signature and title of an officer of the lender, signed in ink.

The one-page worksheet works out a maximum loan amount in three sections: an initial computation from the existing VA loan balance, a preliminary loan amount with discount, origination fee, funding fee and other allowable closing costs and prepaids, and a final computation. Its Privacy Act notice says failure to complete the form could result in making a loan in excess of the allowable amount. You can fill out the PDF free in your browser on this page and download the result without an account.

Top of page 1 of VA Form 26-8923: Interest Rate Reduction Refinancing Loan Worksheet, as printed by VA

What's on VA Form 26-8923

Notices and VA loan number

The Privacy Act notice, a respondent burden of 30 minutes, OMB Approved No. 2900-0386 expiring 11/30/2027 and a box for the VA loan number.

Section I: initial computation

Lines 1 to 3: the existing VA loan balance plus the cost of energy efficient improvements, minus any cash payment from the Veteran.

Section II: preliminary loan amount

Lines 4 to 9: the line 3 total plus a percentage discount, origination fee and funding fee, each based on line 4, plus other allowable closing costs and prepaids.

Section III: final computation

Lines 10 to 18: a discount based on line 10, minus the amounts on lines 5 and 7, plus a funding fee based on line 16, for the total maximum loan amount on line 18.

Rounding note and signature

A note on rounding the maximum loan amount, then the date, the name of the lender and the signature and title of an officer of the lender.

How VA Form 26-8923 is completed

1
Enter the VA loan number
Fill in the VA loan number box at the top of the worksheet.
2
Work through Section I
Enter the existing VA loan balance on line 1, subtract any cash payment from the Veteran on line 2 and total it on line 3.
3
Fill in the percentages in Section II
Enter the percent for the discount, origination fee and funding fee on lines 5 to 7, add other allowable closing costs and prepaids on line 8 and total on line 9.
4
Finish the final computation
Carry the line 9 total to line 10 and work through lines 11 to 18 to reach the maximum loan amount.
5
Round the maximum loan amount
The form says the maximum loan amount may be rounded off but always rounded down to avoid cash to the Veteran, and round-off amounts of less than $50 do not require recomputation.
6
Date and sign it
Enter the date and the name of the lender, and an officer of the lender signs in ink with a title.

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When it is submitted and edition

When it is submitted

The note on the form says to submit it when requesting guaranty on an Interest Rate Reduction Refinancing Loan.

Where it goes

Neither the form nor VA's form page prints a mailing address. The respondent burden note says not to send the completed VA Form 26-8923 to the VA Reports Clearance Officer email address it lists.

Edition

The NOV 2024 edition supersedes VA Form 26-8923, DEC 2021, which the form says will not be used. OMB Approved No. 2900-0386 expires 11/30/2027.

Who uses VA Form 26-8923?

Lenders requesting guaranty
The note at the top says to submit the form when requesting guaranty on an Interest Rate Reduction Refinancing Loan.
An officer of the lender
The bottom of the form asks for the date, the name of the lender and the signature and title of an officer of the lender, signed in ink.
Veterans refinancing a VA loan
The worksheet starts from the existing VA loan balance, plus the cost of energy efficient improvements, and line 2 subtracts any cash payment from the Veteran.
No Veteran signature
The only signature line on the form is for the officer of the lender. There is no signature line for the Veteran.

The form is completed and signed by the lender.

Official sources and the blank

Official VA form page
The agency’s own page for Form 26-8923.
Blank PDF
The official blank form, to print or fill by hand.

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Questions about Form 26-8923

What is VA Form 26-8923?

It is VA's Interest Rate Reduction Refinancing Loan Worksheet, a one-page computation of the maximum loan amount. The form says to submit it when requesting guaranty on an Interest Rate Reduction Refinancing Loan.

Who signs VA Form 26-8923?

An officer of the lender, who signs in ink and gives a title, with the date and the name of the lender. The form has no signature line for the Veteran.

Does the worksheet print the fee percentages?

No. Lines 5, 6, 7, 11 and 17 leave a blank for the percentage, and the form prints no rate.

How is the maximum loan amount rounded?

The form says it may be rounded off but always rounded down to avoid cash to the Veteran. Round-off amounts of less than $50 do not require recomputation.

Which edition is current?

The PDF is dated NOV 2024, matching the November 2024 revision date on VA's form page. It supersedes the DEC 2021 edition.

VA Form 26-8923: Interest Rate Reduction Refinancing Loan Worksheet