Can I refinance a VA loan?

Yes, you can refinance with a VA loan. There are two main types of VA loan refinance programs:

• Interest Rate Reduction / Streamline Refinance: This option allows you to replace your existing VA-backed home loan with a new one that has more favorable terms, helping to lower your monthly mortgage payments.
• Cash-Out Refinance: This program enables veterans with an existing VA or conventional loan to access their home equity for purposes such as home improvements or major purchases. The amount of cash you can borrow is based on the current appraised value of your property, with most VA lenders permitting a cash-out loan up to 90 percent of this value.