How to Refinance a Conventional Mortgage into a VA Loan

VA Loan Rates and APR calculations valid as of Jul 31st, 10:02 AM CST.

Mortgage rates update at least daily. Not all loan types are available in every state.

All rate availability will depend upon an individual's credit score and details of the loan transaction. First-time homebuyers may not qualify for a jumbo product. The interest rates quoted here are subject to change at any time and cannot be guaranteed until locked in by your Loan Officer.

All rates assume a single-family primary residence not including manufactured homes, 720 credit score, with applicable charges and fees (including the VA Funding Fee) included, 181 days of eligible active regular (non-reserves) military service with no service-related disabilities or previous use of a VA Loan.

The loan rates and APR calculations also assume certain facts according to the type of loan described.

Fixed-Rate Purchase Loan Assumptions:

Current advertised rates: 2.250% (2.710% APR) on a 45-day lock period for a 15-Year Fixed VA Loan, and 2.500% (2.767% APR) with 0.250 discount points on a 45-day lock period for a 30-Year Fixed VA Loan. These loan rates assume no down payment and a $250,000 loan amount.

Streamline (IRRRL) Loan Assumptions:

Current advertised rates: 2.375% (2.621% APR) with 0.250 discount points on a 60-day lock period for a 15-Year Streamline (IRRRL), and 2.625% (2.786% APR) with 0.625 discount points on a 60-day lock period for a 30-Year Streamline (IRRRL). These Refinance loan rates assume that the property will be owner-occupied.

Cash-Out Loan Assumptions:

Current advertised rates: 2.375% (2.871% APR) with 0.250 discount points on a 60-day lock period for a 15-Year VA Cash-Out refinance, and 2.625% (2.922% APR) with 0.625 discount points on a 60-day lock period for a 30-Year VA Cash Out refinance. These Refinance loan rates assume a loan-to-value ratio lower than 90%.

Jumbo Loan Assumptions:

Current advertised rates: 2.625% (2.894% APR) with 0.250 discount points on a 45-day lock period for a 30-Year Fixed VA Jumbo, 2.990% (3.126% APR) with 0.250 discount points on a 60-day lock period for a 30-Year Streamline (IRRRL) Jumbo, and 2.990% (3.265% APR) and 0.250 discount points on a 60-day lock period for a 30-Year VA Cash-Out Jumbo. These loan rates also assume a loan amount in excess of the current conforming loan limits. Although the conforming loan limit varies depending upon where you live, for most of the United States in 2021, that means your loan must be greater than $548,250 to qualify as jumbo. Alaska, California and Hawaii loans have special considerations for what qualifies as jumbo and may be priced separately.