refinancing
your VA loan.

compare multiple VA loans from top lenders all in one place.

one online application
 1,000+ options to choose from
⇒ zero application fees

why veterans should always shop around.

1 BPS
spread

the spread between the lowest & highest quote for an average VA loan scenario (2.00%–4.75%)

$ 1
overpaid in 5 years

how much you’d overpay in 5 years if you got the highest quote. That’s $194,098 over 30 years!

1 %
odds of overpaying

only 2/64 lenders offered the lowest rate, so if you got 1 quote, you’d have a 3.13% chance of getting the best one

*Based on: 30-yr fixed VA loans in CA,  $354,500 mortgage size, 750 credit, discount points range -0.5%–0.5%. Updated 11/20/20

VA loans have the widest margins

Year over year, VA loans offer the lowest rates, with non-Jumbo VA loans consistently sporting the most competitive terms. However, VA loans also have the most variability between the worst and best quote, even when controlling for location and credit score. This is why it’s important to get multiple quotes if you are a veteran.

VA refinancing options

Whether you’re looking to refinance into a VA loan from another mortgage type, take cash out, or simply improve your current rate, a VA refinance can set you on the right financial path. You have two general refinancing options, each offering their own  perks.

If you’d like to access your home equity or if you’d like to switch into a VA loan from another loan type, VA cash-out refinancing may be right for you. But, if already have a VA loan and just want to improve your rate and terms, a VA streamline may be the way to go. Check out the program features for details.

cash-out refinance

Take cash out of your home ~or~ switch into VA loan .

A VA Cash-Out allows you to replace an existing home loan with a VA loan. Unlike the name implies, you don’t actually have to take equity out. This loan can be used to pay off other debts, switch from a non-VA to a VA loan (eliminating mortgage insurance), and —if you want— get cash at closing.

IRRRL or VA streamline

Lower your rate or change your terms with a new VA loan.

A VA Streamline (or Interest Rate Reduction Refinancing Loan) allows you replace your existing VA loan with a new VA loan under different terms. It’s ideal if you want to lower interest, change terms, or convert from one VA mortgage type to another. For example, if you want to go from an adjustable to a fixed-rate mortgage.

read next

Every VA loan isn’t as helpful as the next. Check out these common pitfalls of VA loans and how to navigate them. 

Learn about recent updates and changes to VA loans as of January 2020, including new loan limits, COVID-19 adjustments, and more.

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