VA Loan Refinance Rates

Explore current rates for VA loans from Rocket Mortgage® for refinancing a home. If you want better than a general idea of rates, we can help find the right option at the best rate for you.
Veterans like this Black solider enjoy benefits unique to VA loans when refinancing.Veterans like this Black solider enjoy benefits unique to VA loans when refinancing.
Purchase Rates

30-year VA

Rate7%

APR
7.557%
Points

2 ($5,107.50)

Apply to refinance
Learn About VA Loans

25-year VA

Rate6.99%

APR
7.612%
Points

2 ($5,107.50)

Apply to refinance
Learn about VA loans

20-year VA

Rate7.25%

APR
7.966%
Points

1.875 ($4,788.28)

Apply to refinance
Learn about VA loans

15-year VA

Rate6.49%

APR
7.353%
Points

1.875 ($4,788.28)

Apply to refinance
Learn about VA loans

30-year VA jumbo

Rate6.49%

APR
7.353%
Points

1.875 ($4,788.28)

Apply to refinance
Learn about VA jumbo loans
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Rates are current as of 6:21 PM UTC on January 14, 2025

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What factors determine your VA loan refinance rate?

Like other loan types, VA refinancing rates are affected by a variety of things. Some you can influence, others you can’t. Let’s review a few.

Credit Score

A higher credit score predicts it’s more likely a loan will be paid back. That means you’re considered a lower risk and may get a lower interest rate.

Debt-To-Income Ratio (DTI)

The less debt you have, the more income you have to pay your mortgage. Since the risk you can’t pay is lower, you could get a lower interest rate.

Market Conditions

The Federal Reserve (the central bank of the U.S.), inflation and the housing market all affect VA mortgage refinance rates.
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Pros And Cons Of A VA Refinance

Pros

Access your home equity. Equity is the difference between your home’s value and what you still owe on it. You can refinance and use your home’s equity to take cash out – up to 100% of its value with a VA loan.

Pay your mortgage off sooner. If you want to be mortgage-free faster, you can refinance to a shorter term.

Lower your monthly payment. You can refinance a VA loan to lower your rate, which usually lowers your payment.

Cons

Your monthly payment will increase if you’re refinancing to take cash out, because your loan amount will increase.

There are costs for getting a new mortgage. Just like when you bought your home, you pay closing costs when refinancing, around 3-6% of the loan amount.

You’ll have to pay the VA funding fee. This fee is roughly 2-3% of the loan amount, but can be lower or waived in some cases.

VA Loan Refinance Rates Frequently Asked Questions

Don’t see your question here? We love helping people understand how rates work and what yours could be. Just talk to us.

Learn About VA Loans

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An inviting porch with a brown wood floor, white railings, two white chairs and fall floral arrangements.

6-Minute Read

VA Loan Down Payment Requirements

Read The Article
A woman thinking and sitting at a computer.

6-Minute Read

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Read The Article
Two young multicultural parents hold their toddler as they work on packing for a move.

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Four friends enjoy wine and a meal together around a table in a kitchen with wood paneling and ceiling.

6-Minute Read

What Is The Minimum VA Loan Credit Score For A Home Purchase Or Refinance?

Read The Article
A middle-aged white couple cuddle together on a couch while looking at a laptop.

6-Minute Read

VA Cash-Out Refinance: What It Is And How It Works

Read The Article
An inviting porch with a brown wood floor, white railings, two white chairs and fall floral arrangements.

6-Minute Read

VA Loan Down Payment Requirements

Read The Article
A woman thinking and sitting at a computer.

6-Minute Read

FHA Vs. VA Loans: What’s The difference, And Which One Is Best For You?

Read The Article
Two young multicultural parents hold their toddler as they work on packing for a move.

5-Minute Read

What Is A VA Guaranteed Loan?

Read The Article
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