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What Are My VA Loan Refinancing Options?

VA IRRRL: VA Interest Rate Reduction Refinance Loan

You can only take advantage of this program if your current home loan is a VA Loan. Depending on current market conditions and interest rates, it can help you get a lower interest rate to lower your monthly payments, or shorten your term to pay off your loan sooner.

  • No income documents or appraisal are required.
  • Proof of employment may not be needed.
  • Low fees may be included in the loan.

VA Cash Out Refinancing

VA Cash-Out Refinancing can be used to refinance any type of loan program as long as there’s still outstanding principal on the property. Just like a standard Cash-Out Refinancing program, it lets you turn a portion of your home’s equity into cash you can use however you want.

  • Consolidate debt to pay off or pay down high interest credit cards or other loans.
  • Repair, renovate, or remodel your home or yard.
  • Afford major purchases like new appliances or a vehicle.
  • Purchase a second home or investment property.
  • Cover tuition and other education expenses without relying on high interest loans.
  • Pay for a wedding or other big life event.
  • Take a dream vacation.
  • Pay for unplanned or unexpected expenses.

Ready to put your VA benefits to work for you? Contact a NOVA Loan Officer to get started.

The Program information shown is for informational/educational purposes only and does not represent a commitment to lend or extend credit. Other terms and conditions may apply. Contact your Loan Officer for more details.