If you are an elligible veteran, you can refinance your VA or non-VA loan into a new VA mortgage.

If you currently have a VA mortgage, the VA IRRL (interest rate reduction loan) can lower your interest rate and payment and no equity is required.
The VA non-VA IRRL refinance can be used for bill consolidation, home improvement, or to cash out equity. Please note that equity is required to cash out.

VA Loan Refinance Rates
The VA home loan refinance rates are often lower than conventional home loan rates. As with all loans originated by VA HLC, each VA refinace is a fixed rate mortgage, guaranteed to never increase.

Va Refinance Types
There are three main types of VA refinance loans. They are:
VA IRRL Refinaince
VA Cash Out Refinance
VA Home Improvement Refinance

The VA IRRL Refinance Loan is to be used if you currently have a VA loan and are refinancing into a new VA loan for a lower rate or longer term.
The VA Cash Out Refinance Loan is to be used if you are looking to get a VA loan and convert your homes equity into cash. You do not need to currenlty have a VA loan to cash out equity.
The VA Home Improvement Refinance Loan is to be used to remodel, rehabilitate, or repair your home. Equity is not required. The total loan aount is based on the future (after repaired value) of the home. You may borrow up to $50,000 to pay for repairs. If you would like to borrow more than $50,000 for repairs, equity is required.

To apply for a VA refinance loan, click here for the VA loan application.