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Still Overpaying on Your VA Mortgage?

Most veterans qualify for a lower rate – thousands already have

  • Lower interest rates with fast refinancing
  • Credit scores from 580 accepted
  • FHA Streamline available - Minimal documentation refinance
  • Reduce monthly payments
  • Quick refinancing - Closing in as little as 10-14 days
  • Cash-out refi options available
  • No appraisal needed*

No appraisal typically required for VA IRRRL or FHA Streamline Refinance only. Cash-out refinances generally require an appraisal.

Get Your Refi Savings Quote

By clicking Submit or Get My Quote, I provide my express written consent for MortgagePros, LLC and its affiliates and partners to contact me at the telephone number I have provided, including through the use of an automatic telephone dialing system, prerecorded or artificial voice messages, or other automated technologies, even if my number is on a Do-Not-Call registry. Message and data rates may apply. Messaging frequency may vary. Text STOP to opt out at any time. Consent is not required as a condition of purchase or service.

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Average Refi Closing
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Licensed states AND Counting!
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Today's VA Rate 30 YR: 7.005%

Why Refinance Your VA Mortgage with MortgagePros?

Lower Your Payment

VA loan rates consistently rank among the lowest in the market.
Veterans who refinance with us typically see significant monthly
savings that add up to thousands over the life of their loan.
Your dedicated loan specialist will show you exactly 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 FHA Owner?

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’s the fastest 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. As a Veteran Approved mortgage company, we work with specialized lenders who help veterans with past credit difficulties access the VA benefits they’ve earned.

What Makes MortgagePros Different?

VA-Approved Lender

Fully licensed and authorized to offer VA home loan products to eligible veterans and service members.

VA Specialists

Our team works exclusively with VA loans. We know every benefit, every guideline, and every shortcut to get you closed faster.

Fast Closings

We’ve streamlined our process to close most refinances in under three weeks. Many IRRRLs close in just two.

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 FHA loan options today.

Start Your Free Consultation

Or call us at 248-416-1361

VA vs Conventional Loans

Check If You Qualify for Streamline Refi
Feature VA Loan Traditional Refi
Down Payment 0% required 3% – 20% required
Mortgage Insurance None – ever Required until 20% equity
Credit Score Minimum More flexible (typically 580+) Stricter (typically 620+)
Debt-to-Income Ratio Higher limits allowed Usually capped at 43-45%
Interest Rates Typically lower than market Standard market rates
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

Refinance Calculator

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$0 $300,000
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Monthly Payment

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Principal & Interest $0
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HOA Fees $0
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Disclaimer: This calculator is provided for informational and educational purposes only. The results are estimates based on the information you provide and should not be considered financial, legal, or tax advice. Actual rates, payments, and terms may vary based on your individual financial situation, credit history, lender requirements, and market conditions. All figures, including interest rates, property taxes, insurance costs, and other fees are subject to change. Please consult with a qualified mortgage professional or financial advisor for personalized guidance and accurate quotes specific to your circumstances.

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 exactly 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. Most veterans close in three weeks or less.

OUR PROMISE

The MTGPros VA Refinance Guarantee

We stand behind your refinance with these commitments:

Best Rate Promise

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

You’ll receive a clear, detailed Loan Estimate within 3 business days of application—no hidden fees, no last-minute changes.

Always Available

Direct access to your VA refinance specialist by call, text, or email. We respond within 2 business hours during the workday.

Ready to Lower Your VA Mortgage Payment?

Join thousands of veterans who’ve taken control of their mortgage and started saving with MortgagePros.

Get My Free VA Quote
Call 248-416-1361

3,900+ 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 FHA 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
  • No income or employment verification needed
  • No out-of-pocket costs – fees can roll into your new loan
  • Minimal paperwork compared to other refinance types
  • Faster closings, often in as few as two weeks

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 – a smart move for any eligible veteran currently paying mortgage insurance.

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 (paying monthly MIP that never goes away)
  • 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 (and who has not remarried)
  •  

Many homeowners use FHA refinancing as a temporary strategy, then refinance into a conventional loan once they reach 20% equity—eliminating mortgage insurance later.

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 consistently among the lowest available to any borrower. Because VA loans are partially guaranteed by the federal government, lenders face less risk – and they pass those savings on to you in the form of lower rates.

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 have a service-connected disability rating, you pay nothing.

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.

VA Refinance in 30+ States

We’re licensed and ready to help homeowners refinance across more than 30 states.

VA Refinance Loan Questions – Answered

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.

Yes. As a Veteran Approved mortgage company, we work with specialized 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 best available VA option based on your unique situation, ensuring you can access the VA benefits you’ve earned regardless of past financial difficulties.

IRRRL streamline refinances often close in two to three weeks due to reduced documentation requirements. 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.

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.

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.

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.

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.

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.

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.

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.

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 #1925352 is a licensed mortgage broker. 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, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, and WY. State license numbers are available upon request or at www.nmlsconsumeraccess.org.