VA loan refinance.
Two main ways to refinance a VA loan. One is streamlined and quick, the other opens up your equity. We explain both before anything is offered.
Two main ways to refinance a VA loan. One is streamlined and quick, the other opens up your equity. We explain both before anything is offered.
The Interest Rate Reduction Refinance Loan, often called a streamline, resets the rate on an existing VA loan. The VA cash-out refinance replaces any loan and can return equity to you.
Lowering a payment with minimal paperwork, locking in a fixed rate, or taking cash out of the home.
Each path has its own funding fee, timing rules and occupancy requirements. Your loan officer tells you which applies.
Your balance, rate and how long you have had the loan.
Streamline against cash-out, and both against leaving the loan alone, with the funding fee counted.
A streamline can close quickly. A cash-out follows the full process. Support continues after.
You already have a VA loan and rates have moved since.
You want the lower rate without a full new application.
Your current VA loan adjusts and you want certainty.
You have built equity and want to put it to work.
If you no longer live in the home, the streamline may still be available where a cash-out is not. Your loan officer confirms.
A simplified VA refinance for an existing VA loan that typically needs no appraisal and limited documentation. It must generally lower your rate or move you to a fixed rate.
Yes, with the VA cash-out refinance, which follows the full application process and can also replace a non-VA loan.
Yes for most borrowers, lower on a streamline than a cash-out, and waived for some veterans. Your loan officer explains yours.
For a streamline, you must have lived there at some point. For a cash-out, it must be your primary residence now.
There are minimum waiting periods after your current loan closes. Your loan officer checks the dates for you.
Tell us about your current loan and what you want to change. A loan officer compares a streamline against a cash-out before anything is offered. Pre-qualifying will not affect your credit score.
Pre-qualify for a VA refinance
