Question on VA IRRRL in FLI've been offered a VA IRRRL at 3.375% with closing costs covered by lender (not my current lender) . So supposedly no money out of my pocket and no addition to my principal. I'm currently at 3.875% on a 30 year fixed. The refinance would save me about $110/month. House is underwater--owe $300,000, market price is probably around $225,000. Is this too good to be true? Does the VA funding fee always have to be added to the principal on a refinance? Let me know if more info is needed.November 26 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.