Compare current VA refinance rates

Today’s VA refinance interest rates

For today, Wednesday, June 04, 2025, the national average 30-year VA refinance interest rate is 7.79%, down compared to last week’s rate of 8.64%. As of now, VA refinance rates are expected to settle within the 6 to 7 percent range for at least the rest of 2025. The good news: VA loan rates are often lower than their conventional counterparts.

National refinance rates by loan type

Mortgage refinance interest rates vary based on loan term, type and other factors.

What factors impact VA refinance rates?

Like other types of loans, there are a variety of factors that impact VA loan refinance rates, including:

• Your credit score and debt-to-income (DTI) ratio
• Type of refinance
• Loan amount and term
• Inflation, market conditions and other economic factors

Types of VA refinance loans

There are two main ways to refinance a VA loan:

• VA streamline refinance: Also called an Interest Rate Reduction Refinance Loan (IRRRL, pronounced “earl”), this type of VA refinance doesn’t require an appraisal or credit check. This can be a great option for VA borrowers who want to refinance to a lower rate.
• VA cash-out refinance: With a VA cash-out refinance, you can refinance your current mortgage — regardless of whether it's a VA loan or conventional loan — and get cash by borrowing against your home’s equity.

How to find the best VA refinance rate

If you’re considering a VA refinance, there are several ways to help ensure you get the best possible rate. Here are our best tips: 

• Improve your credit score. Your credit score is the single biggest factor determining your loan costs. If your score needs work, take steps to improve it before getting preapproved or completing an application.
• Find ways to bolster your application. Besides your credit score, a higher down payment and lower DTI ratio can help you get a lower rate. Here are tips to boost your savings and tips to lower your debt ratio.
• Shop around. VA lenders charge different rates and fees, sometimes with significant gaps between offers. Even a slight rate reduction could translate to substantial savings over the life of your loan.

Who qualifies for a VA refinance loan?

To qualify for any VA loan, you’ll need to meet specific military service requirements and have a VA certificate of eligibility (COE). The service requirements are as follows:

• You’re currently on active military duty or a veteran who was honorably discharged and met the minimum service requirements;
• You served at least 90 consecutive active days during wartime or at least 181 consecutive days of active service during peacetime; or
• You served for more than six years in the National Guard or Selective Reserve.

Depending on the type of VA refinance you’re after, there might be additional requirements. VA streamline refinances don’t require some underwriting verifications, but you do need to confirm that you live or lived in the property. VA cash-out refinances, on the other hand, are only allowed on a primary residence you currently live in, and impose credit and other underwriting criteria. Keep in mind, too, that it’s not entirely up to the VA; lenders get to set their own criteria when it comes to borrower standards.

Benefits of a VA refinance loan

A VA refinance loan can be advantageous for your finances and easier to do compared to a conventional refinance. Here are some of the main benefits:

• Competitive rates: VA refinance rates are often lower in relation to other loan types, which can help maximize your savings.
• Low funding fee: Compared to a VA loan for a home purchase, the funding fee for a VA streamline refinance is just 0.5 percent.
• Quicker process: If you go the streamline refinance route, you’ll skip some of the usual steps in the underwriting process — including the appraisal, credit check and income verification.

Additional VA refinance resources

• VA loan calculator
• VA loans vs. conventional loans
• VA loan resources
• Best VA loan lenders

Meet our Bankrate experts

Written by: Jeff Ostrowski, Writer & Housing Market Analyst

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

Read more from Jeff Ostrowski

Edited by: Laurie Richards, Editor, Home Lending

I’ve spent five years in writing and editing roles, and I now focus on mortgage, mortgage relief, homebuying and mortgage refinancing topics. I’m most interested in providing resources for aspiring first-time homeowners to help demystify the homebuying process. In 2021, I earned a Poynter ACES Certificate in Editing. I have an MA in English. 

Read more from Laurie Richards