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VA Loan Refinance

If you currently have a VA home loan or are eligible to borrow one, you can substantially reduce your interest rate with VA refinance. VA refinancing allows you to refinance your VA home loan with no out-of-pocket expenses. The paperwork involved in a VA loan refinance is minimal, which means you can secure an affordable, fixed rate without having to complete stacks of paperwork. With VA refinance rates lower than ever, this option could potentially save you hundreds of dollars per month on your house payment.

Benefits of VA Refinance Loans

Traditional refinancing loans require mountains of paperwork, hours of time, a significant amount of money, and an incredible amount of effort. VA refinance loans are different; they require minimal documentation and involve no additional expenses. Once you qualify for VA refinance rates, you lock in that fixed rate for the duration of your mortgage. In other words, no matter how high rates may get in the future, you will still pay the same low rate you received when you refinanced. VA loan refinance is also fairly quick, especially with VA streamline refinancing. The process is designed to secure you a better rate in the shortest period of time.

Types of VA Refinancing Loans

Those who have a VA mortgage or are eligible for one have three types of VA refinance options from which to choose. The first and most common is VA streamline refinance, also known as Interest Rate Reduction Refinancing. With this form of VA loan refinance, no home appraisal is necessary, the homeowner pays no out-of-pocket costs, and no credit check is required to qualify. The second type of VA refinance loans are cash out refinancing. These loans work the same way other cash out refinance loans do but offer the highly competitive VA refinance rates available exclusively to veterans and active duty military personnel. Finally, there is a conventional to VA refinance, which is available to those who do not currently have a VA home loan but could qualify for one.

Requesting VA Refinance Rates

While VA refinance loans are sponsored by the government, they are still issued through private lenders. If you would like to see the VA refinance rates for which you may qualify, complete the form located at the top of the page. For no charge, we will instantly refer you to several lenders that specialize in VA refinancing to help you find the lowest rate and begin the refinancing process.

National Rate Averages

Mortgage Rates

Product Rate
5/1 yr ARM 3.147%
1 yr ARM 3.299%
15 yr fixed 3.221%
30 yr fixed 3.815%

Home Equity Rates

* Updated Jun 7, 2012