VA (Department of Veterans Affairs)
Government Institution
The Department of Veterans Affairs (VA) has been helping veterans, active-duty military, and eligible surviving spouses become homeowners and refinance since the VA home loan program was created in 1944. The main pillars of the VA loan program are no down payment required, competitive low interest rates, limited closing costs, and no private mortgage insurance (PMI).
First Mortgage Programs Offered by VA (Department of Veterans Affairs)
VA High-Balance Rate-and-Term Refinance
Best For: Large Loan Amounts, Zero Down
The VA high-balance, or "Jumbo", refinance allows for loans above the standard conforming limit—giving extra flexibility to VA borrowers that qualify.
Min. Credit Score
620
Min. Equity
0%
Max. Loan Amount
$1,500,000
VA IRRRL Interest Rate Reduction Refinance
Best For: Rate Reduction, Easy Process
Quickly and easily lower your VA interest rate, and inherently monthly payment, with minimal documentation and no appraisal required.
Min. Credit Score
580
Min. Equity
0%
Max. Loan Amount
$766,550
VA High-Balance Purchase Loan
Best For: Large Loan Amounts, Zero Down
The VA high-balance mortgage (often called "VA Jumbo") is used for loans above the conforming limit—allowing homebuyers to maximize their VA benefits.
Min. Credit Score
640
Min. Down Payment
0%
Max. Loan Amount
$1,500,000
VA Purchase Loan
Best For: Lowest Rates, Zero Down
VA purchase loan program with no down payment requirement, competitive interest rates, limited closing costs, and no private mortgage insurance.
Min. Credit Score
580
Min. Down Payment
0%
Max. Loan Amount
$766,550
VA High-Balance Cash-Out Refinance
Best For: Large Loan Amounts, Cash-Out
The VA jumbo cash-out refinance allows for loans above the standard conforming limit and for up to 100% of the appraised value of the home.
Min. Credit Score
620
Min. Equity
0%
Max. Loan Amount
$1,500,000
Up to 100% of Value Estimated Cash-Out Opportunity
VA High-Balance IRRRL Interest Rate Refinance
Best For: Large Loan Amounts, Rate Reduction, Easy Process
Quick and easy program for lowering your VA monthly payment with minimal documentation and loan amounts above the standard conforming loan limits.
Min. Credit Score
620
Min. Equity
0%
Max. Loan Amount
$1,500,000
VA Rate-and-Term Refinance
Best For: Rate Reduction, Lowest Rates
Refinance to a lower VA mortgage rate or change your term (length) with limited closing costs and no private mortgage insurance.
Min. Credit Score
580
Min. Equity
0%
Max. Loan Amount
$766,550
VA Cash-Out Refinance
Best For: Rate Reduction, Lowest Rates
The VA offers a flexible cash-out refinancing program that goes up to 100% of the appraised value of the home for veterans and active-duty military.
Min. Credit Score
580
Min. Equity
0%
Max. Loan Amount
$766,550
Up to 100% of Value Estimated Cash-Out Opportunity
See If You Qualify for VA (Department of Veterans Affairs) Loans
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