VA Loan Refinance Options
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Homeowners with an existing VA mortgage may be eligible to refinance their VA loan. Refinancing your loan could lower your rate, change your loan term or allow you to switch from an adjustable rate mortgage to a steady fixed rate loan. There are two types of VA refinance loans that are available to eligible members of the United States Army, Navy, Marines, Air Force and Coast Guard.
This is also referred to as a VA IRRRL, or Interest Rate Reduction Refinance Loan. This program provides the possibility to get better VA mortgage terms at a lower price with little documentation.