Still Overpaying on Your VA Mortgage?
You may qualify for a lower rate or payment; we compare your current loan with your options and show the break-even
- A lower rate with less paperwork on a Streamline
- No VA minimum credit score; lenders set their own
- VA IRRRL streamline available with minimal documentation
- Reduce monthly payments
- Streamlined refinancing with less paperwork
- Cash-out refi options available
- No appraisal needed*
U.S. average VA 30-year rate (Optimal Blue index via FRED, a market benchmark, not our rate, as of Oct 21, 2026): 6.96%
No appraisal typically required for a VA IRRRL. Cash-out refinances generally require an appraisal.
Get your personalized quote
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Why Refinance Your VA Mortgage with MortgagePros?
Lower Your Payment
VA loan rates are often competitive with other loan types.
Whether a refinance saves you money depends on your current rate, balance, costs and how long you keep the loan.
Your dedicated loan specialist will show you what you
could save based on your unique situation.
Cash Out Your Equity
Need funds for renovations, debt consolidation, or a major
expense? VA cash-out refinancing lets you tap into more of
your home’s equity than virtually any other loan type. Access
the money you need while potentially lowering your rate at
the same time.
Current VA Loan Holder?
You may qualify for refi even if your credit has changed – we specialize in existing borrowers
Streamline Refinance
Already have a VA loan? The IRRRL (Interest Rate Reduction
Refinance Loan) is designed to make refinancing as simple as
possible. No appraisal needed. No income verification. Minimal
paperwork. It is often the quickest path to a lower payment – and it’s
a benefit you’ve earned through your service.
Eliminate PMI Forever
If you’re currently paying private mortgage insurance on a
conventional or FHA loan, refinancing to VA eliminates that
cost permanently. That’s money back in your pocket every
single month – a benefit reserved exclusively for those
who’ve served.
Veterans with Credit Challenges
Your service matters more than your credit score. We work every week with lenders who help veterans with past credit difficulties access the VA benefits they’ve earned.
What Makes MortgagePros Different?
01
VA Home Loans Available
Fully licensed and authorized to offer VA home loan products to eligible veterans and service members.
02
VA Specialists
Our team works exclusively with VA loans. We know every benefit, every guideline, and every shortcut to get you closed faster.
03
Fast Closings
We keep the process streamlined; timelines vary with the appraisal, title and underwriting, and IRRRLs often need less paperwork.
04
Veteran-Focused
We understand military life – deployments, PCS moves, BAH, and more. Your situation isn’t complicated for us.
READY TO GET STARTED? Let’s discuss your VA loan options today.
Or call us at 248-416-1361
VA vs Conventional Loans
| Feature | VA Loan | Traditional Refi |
|---|---|---|
| Down Payment | 0% required | 3% – 20% required |
| Mortgage Insurance | No monthly mortgage insurance | Required below 20% down; cancellable at 80% of original value |
| Credit Score Minimum | No VA minimum; lender requirements are often more flexible | Usually 620 or higher, set by the lender |
| Debt-to-Income Ratio | Higher limits allowed | Commonly up to about 45-50% |
| Interest Rates | Set by the lender; often competitive | Set by the lender |
| Cash-Out Maximum | Up to 100% of home value | Usually limited to 80% |
| Loan Assumable | Yes – a major selling point | No |
| Who Qualifies | Veterans, active duty, eligible spouses | Anyone who meets credit requirements |
VA Refinance Savings Calculator
Earned, not given
The VA benefit belongs to the people who served. We help them use it well.
How to Refinance Your VA Mortgage in 4 Simple Steps
1
Get Your Free Quote
Answer a few quick questions about your current loan and goals. Takes less than 2 minutes – no commitment required.
2
Talk to a VA Specialist
Your dedicated loan officer will review your options and explain how much you could save. No pressure, no obligation.
3
Fast & Easy Approval
We handle the heavy lifting. Most IRRRLs require minimal documentation – often just your current mortgage statement.
4
Close & Start Saving
Sign your final documents and enjoy your lower payment. Timelines vary with the appraisal, title and underwriting.
Our commitments to you
OUR PROMISE. We stand behind your refinance with these commitments:
Compare us
Find a better VA rate with a competing lender? We’ll match it*. Bring us any written offer.
No Surprises
The costs we quote upfront are the costs you’ll pay at closing. We don’t believe in last-minute surprises.
Transparent Refinance Pricing
Within three business days after we receive your application, federal rules require that you receive a Loan Estimate showing the rate, payment and closing costs. Those figures can change only where the rules allow it, such as when you lock your rate or ask for a change, and you receive a revised Loan Estimate if they do.
Always Available
Direct access to your VA refinance specialist by call, text or email during business hours.
Ready to Lower Your VA Mortgage Payment?
Join thousands of veterans who’ve taken control of their mortgage and started saving with MortgagePros.
5,400+ MTGPros Customer Reviews Say It All Don’t just take our word for it. See what thousands of satisfied homebuyers have to say about their VA loan experience with MTGPros.
VA Refinance Loans: Lower Your Payment, Simplify Your Mortgage
Your service to our country earned you access to one of the most valuable mortgage benefits available anywhere: the VA home loan. If you currently have a mortgage – whether it’s an existing VA loan, an FHA loan, or a conventional loan – refinancing with your VA benefit could significantly lower your monthly payment, eliminate mortgage insurance, or put cash in your pocket. At MortgagePros, we specialize exclusively in helping veterans like you maximize these hard-earned benefits.
VA Refinance Options Explained
VA Streamline Refinance (IRRRL)
The Interest Rate Reduction Refinance Loan – commonly called the IRRRL or “VA Streamline” – is the simplest way to lower your existing VA loan payment. Designed specifically for veterans who already have a VA mortgage, the IRRRL cuts through typical refinance red tape:
- No appraisal required in most cases
- Income and employment documentation is often reduced; lender rules apply
- Little or no cash due at closing – costs can roll into the new loan
- Minimal paperwork compared to other refinance types
- Less paperwork on a streamline refinance
The primary requirement is straightforward: your new interest rate must be lower than your current rate (with limited exceptions for those moving from an adjustable-rate to fixed-rate mortgage).
VA Cash-Out Refinance
Need to access your home equity? The VA cash-out refinance is one of the most generous options available to any homeowner. While conventional loans typically limit cash-out refinancing to 80% of your home’s value, VA loans allow you to access significantly more.
Veterans commonly use cash-out refinancing to:
- Consolidate high-interest credit card or personal loan debt
- Fund home improvements or repairs
- Cover major expenses like education or medical bills
- Build an emergency financial cushion
- Convert a conventional or FHA loan to a VA loan (eliminating PMI)
Even if you don’t need cash, a “cash-out” refinance is the only way to convert a non-VA loan into a VA loan – worth pricing for an eligible veteran currently paying mortgage insurance, once the costs, rate and break-even are compared.
VA Debt Consolidation
If you’re carrying multiple debts – credit cards, auto loans, personal loans – rolling them into your VA refinance can simplify your finances dramatically. Instead of juggling multiple payments at varying interest rates, you’ll have one predictable monthly mortgage payment, often at a significantly lower combined rate than what you’re currently paying across multiple accounts.
Eliminate Mortgage Insurance
One of the most compelling reasons to refinance into a VA loan is eliminating private mortgage insurance (PMI) or FHA mortgage insurance premiums (MIP). These monthly costs – which protect the lender, not you – can add a substantial amount to your payment every single month.
If you currently have:
- An FHA loan (its monthly MIP runs 11 years or the life of the loan, depending on the original down payment)
- A conventional loan with less than 20% equity (paying PMI)
Refinancing to a VA loan eliminates this expense permanently. It’s not a temporary removal – VA loans never require mortgage insurance, period. This benefit alone makes refinancing worthwhile for many veterans, even before factoring in potential rate savings.
Who Qualifies for VA Refinance?
VA loan eligibility is based on your service history. You may qualify if you are:
- A veteran with 90+ days of wartime service, OR
- A veteran with 181+ days of peacetime service, OR
- An active-duty service member with 90+ days of service, OR
- A National Guard or Reserve member with 6+ years of service (or 90+ days of active-duty deployment), OR
- A surviving spouse of a veteran who died in service or from a service-connected disability (remarriage at age 57 or later may still qualify; the VA confirms individual eligibility)
Many veterans refinance an FHA or conventional loan into a VA loan to drop mortgage insurance for good, then use the IRRRL later if rates fall.
For IRRRL streamline refinances, you must currently have a VA loan. For cash-out refinances, you can refinance from any loan type as long as you meet the VA’s service requirements.
Certificate of Eligibility (COE)
To refinance with a VA loan, you’ll need a Certificate of Eligibility (COE) proving your qualifying service. Don’t have yours? No problem – we can retrieve it for you electronically in most cases, often within minutes. This is one of the first things your loan specialist will help you with.
What to Expect: VA Refinance Rates
VA loan interest rates are often competitive with other loan types. Because VA loans are partially guaranteed by the federal government, lenders face less risk, which can mean favorable pricing for eligible borrowers.
Your specific rate will depend on several factors:
- Your credit score and history
- Your current loan balance and home value
- The loan term you choose (15-year, 20-year, 30-year)
- Current market conditions
- The type of refinance (IRRRL vs. cash-out)
The best way to know your rate? Get a personalized quote. Our team will pull your information and show you exactly what rates you qualify for – with no obligation and no impact to your credit score for the initial consultation.
The VA Funding Fee Explained
VA loans don’t require mortgage insurance, but they do include a one-time VA funding fee. This fee supports the VA loan program and allows it to continue serving future generations of veterans.
For refinances, the funding fee is:
- IRRRL (Streamline): 0.5% of the loan amount
- Cash-Out Refinance: Varies based on service history and prior VA loan usage
Important: The funding fee is waived entirely for veterans receiving VA disability compensation. If you receive VA compensation for a service-connected disability, you typically pay nothing; certain surviving spouses and others are also exempt.
The funding fee can also be rolled into your loan amount rather than paid upfront, meaning you may not need any cash out of pocket to refinance.
What clients say.
4.9 out of 5 on Google · 5,457 reviews
Stefan Plumaj is awesome. I really enjoyed working with him. He is very professional and thorough and takes the time to explain everything in detail. He goes above and beyond expectations and it was a pleasure to work with him and the entire MortgagePros team. Kudos to all!! Thanks for making my experience the best!
Our experience with MortgagePros was unplanned, unexpected and in the beginning un- informed. Melanie, our agent explained everything thoroughly and as often as needed with the same patience and tenacity. She stayed in constant contact and was more available than any agent we had ever worked with on anything. I can’t imagine her treating every client with the same care and detail but the thought of her giving any less is unfathomable.
Nikki told me I will get you a lower rate, a short time and close you in 7 days. I said, "Prove it." My credit was not great. She got me a lower rate, a short loan in closed in under 7 days!!! She made a promise and she kept it after the last company drug it on for weeks.
Youstin, Brandy and the entire Mortgage Pro team is without exception, the nicest, most professional staff that I have ever encountered during my real estate career. They were kind, diligent, understanding and patient with me throughout the entire refinancing process. Highly recommend to any and all wishing Mortgage Financing.
VA Refinance Loan Questions – Answered
Answered the way our loan officers answer them on the phone.
How much does it cost to refinance a VA loan?
For IRRRL streamline refinances, most veterans pay nothing out of pocket – closing costs are typically rolled into the new loan. Costs generally include the VA funding fee (0.5% for IRRRLs), title insurance, and recording fees. We provide a complete cost breakdown upfront so you know exactly what to expect.
Can I refinance my VA mortgage with bad credit?
Yes. We work with VA lenders who understand that credit challenges don’t define your eligibility for VA loan benefits. While each VA lender has different requirements, we have options for veterans with credit scores below traditional standards.
Your VA loan interest rate may be slightly higher with credit challenges, but not always significantly. Your rate depends on multiple factors including the VA loan type, current market conditions, and the specific VA lender program. Many veterans are surprised to find they still qualify for competitive VA rates despite credit concerns.
We’ve built strong relationships with VA lenders who focus on your complete financial picture—not just your credit score. Your military service, current income stability, and VA loan payment history all play important roles in the approval process. Our team will work with you to find the available VA options for your situation.
How long does a VA refinance take?
IRRRL streamline refinances often need less documentation; timelines vary with the lender, title and underwriting. Cash-out refinances typically take three to four weeks because they require an appraisal. We’ll give you a realistic timeline based on your specific situation.
Can I refinance my conventional loan to a VA loan?
Yes. If you have a conventional or FHA loan, you can use a VA cash-out refinance to convert it to a VA loan – even if you don’t take any cash out. This is one of the smartest moves a veteran can make, as it eliminates mortgage insurance and often lowers your rate simultaneously.
Is there a waiting period before I can refinance my VA loan?
For IRRRLs, the VA requires that at least 210 days have passed since your first mortgage payment and that you’ve made at least six monthly payments. There’s no seasoning period for VA cash-out refinances.
Do I need an appraisal to refinance my VA loan?
IRRRLs typically do not require an appraisal, which speeds up the process significantly. VA cash-out refinances do require a VA appraisal to establish your home’s current market value.
Can I get a VA refinance with less-than-perfect credit?
VA loans are more flexible than conventional loans when it comes to credit. While requirements vary by lender, we work with veterans across the credit spectrum and specialize in finding solutions for those who’ve been told “no” elsewhere. Let’s discuss your situation.
What is the VA funding fee, and can it be waived?
The VA funding fee is a one-time charge that supports the VA loan program. For IRRRLs, it’s 0.5% of the loan amount. For cash-out refinances, it ranges from 2.15% to 3.3% depending on your circumstances. The fee is waived entirely if you receive VA disability compensation.
Can I skip a mortgage payment when I refinance?
Depending on when your loan closes, you may be able to skip one or two mortgage payments. This isn’t “free money” – the interest accrues – but it can provide helpful cash flow flexibility. Your loan officer will explain exactly how the timing works for your situation.
Will refinancing affect my VA entitlement?
For IRRRL refinances, your entitlement remains unchanged – you’re simply replacing one VA loan with another. For cash-out refinances, your entitlement is tied to the new loan. Your loan specialist can explain how this affects your future VA loan options.
What documents do I need to refinance?
For an IRRRL, documentation requirements are minimal – often just your current mortgage statement and basic identification. Cash-out refinances require more documentation including income verification, bank statements, and tax returns. We’ll provide a complete checklist based on your loan type.
* MortgagePros, LLC, NMLS ID 1925352, is licensed in 39 states; license types vary by state and are listed on our Licensing page. Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval and underwriting. Rates and terms are subject to change without notice. For licensing information, visit www.nmlsconsumeraccess.org. Licensed in AL · AR · AZ · CA · CO · CT · DE · FL · GA · IA · ID · IL · IN · KS · KY · LA · MA · MD · ME · MI · MN · MS · MT · NC · ND · NE · NJ · NM · OH · OK · OR · PA · SC · SD · TN · TX · VA · WA · WI. State license numbers are available upon request or at www.nmlsconsumeraccess.org.
MortgagePros, LLC is not affiliated with, endorsed by, or acting on behalf of the Department of Veterans Affairs or any government agency.