VA Loan Refinance Requirements
The VA loan program offers eligible borrowers a strong set of refinance options. After 17 years as a licensed mortgage broker working with clients nationwide, I have helped many veterans and active-duty service members navigate the VA refinance process. Here is what you need to qualify.
Who Is Eligible?
VA loans are available to:
- Active-duty service members
- Veterans with qualifying service
- Some National Guard and Reserve members
- Surviving spouses in certain cases
You need a Certificate of Eligibility (COE) to use your VA benefit. If you already have a VA loan, you have already established eligibility.
VA IRRRL Requirements
The VA Interest Rate Reduction Refinance Loan (IRRRL) is the streamline option. Requirements include:
Existing VA loan. You must currently have a VA loan to use the IRRRL program.
Seasoning. Under VA seasoning rules, at least 210 days must have passed since your first payment, and you must have made at least 6 monthly payments.
Net tangible benefit. The refinance must improve your situation. This usually means a lower interest rate or a switch from an adjustable rate to a fixed rate.
Occupancy. You must have previously occupied the home as your primary residence. You do not need to be living there at the time of the refinance.
No appraisal required. Most IRRRL refinances do not require an appraisal.
No income verification. Most IRRRL refinances do not require income documentation.
VA Cash-Out Refinance Requirements
A VA cash-out refinance has more requirements because it involves a larger loan amount.
Eligibility. You need a COE. You do not need to currently have a VA loan. You can use a VA cash-out to refinance from any loan type.
Appraisal. A VA appraisal is required.
Income verification. You must document your income and employment.
Credit. Most lenders want at least a 620 credit score, though the VA itself does not set a minimum.
Occupancy. The home must be your primary residence.
Loan-to-value. VA cash-out refinances can go up to 100 percent of the appraised value in many cases.
VA Funding Fee
Both the IRRRL and the cash-out refinance come with a VA funding fee. The fee varies based on the type of refinance and whether you have used your VA benefit before. Veterans with service-connected disabilities may be exempt.
Get Started
Check your VA refinance rate at Lendtrain in 30 seconds. See what your IRRRL or cash-out options look like. For a deeper look at rates, see our current VA mortgage refinance rates guide.
Rate quotes are estimates based on the credit score you enter. Actual rates may differ based on verified credit, income, and property details.