Find National and your State’s average VA 30 year refinance rates by credit score. Rates vary by statecredit scoreand lenderbut are generally 0.125-0.25% lower than conventional loans.
VA 30 Year Fixed Refinance Rates –
VA refinance rates are typically among the lowest available because of the government guarantee. Click on a state to see all its rates for all loan products.
| 30-year Fixed VA rates | Credit Score | ||
|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | |
| Credit Unions | 6.06% | 6.44% | 6.73% |
| Online lenders | 6.16% | 6.54% | 6.83% |
| Banks | 6.46% | 6.84% | 7.03% |
| Alabama | 5.72% | 5.77% | 5.82% |
| Alaska | 6.06% | 6.11% | 6.16% |
| Arizona | 5.90% | 5.95% | 6.00% |
| Arkansas | 6.05% | 6.10% | 6.15% |
| California | 5.92% | 5.97% | 6.02% |
| Colorado | 5.95% | 6.00% | 6.05% |
| Connecticut | 5.95% | 6.00% | 6.05% |
| Delaware | 6.31% | 6.36% | 6.41% |
| Florida | 5.86% | 5.91% | 5.96% |
| Georgia | 5.71% | 5.76% | 5.81% |
| Hawaii | 6.35% | 6.40% | 6.45% |
| Idaho | 5.95% | 6.00% | 6.05% |
| Illinois | 5.87% | 5.92% | 5.97% |
| Indiana | 6.23% | 6.27% | 6.32% |
| Iowa | 6.03% | 6.08% | 6.13% |
| Kansas | 5.99% | 6.04% | 6.09% |
| Kentucky | 6.06% | 6.11% | 6.16% |
| Louisiana | 6.36% | 6.41% | 6.46% |
| Maine | 6.31% | 6.36% | 6.41% |
| Maryland | 5.91% | 5.96% | 6.01% |
| Massachusetts | 5.97% | 6.02% | 6.07% |
| Michigan | 5.74% | 5.79% | 5.84% |
| Minnesota | 6.17% | 6.22% | 6.27% |
| Mississippi | 6.23% | 6.27% | 6.32% |
| Missouri | 6.04% | 6.09% | 6.14% |
| Montana | 6.04% | 6.09% | 6.14% |
| Nebraska | 6.23% | 6.27% | 6.32% |
| Nevada | 5.95% | 6.00% | 6.05% |
| New Hampshire | 6.50% | 6.55% | 6.60% |
| New Jersey | 5.97% | 6.02% | 6.07% |
| New Mexico | 6.06% | 6.11% | 6.16% |
| New York | 5.99% | 6.04% | 6.09% |
| North Carolina | 5.75% | 5.80% | 5.85% |
| North Dakota | 6.63% | 6.68% | 6.73% |
| Ohio | 5.52% | 5.57% | 5.62% |
| Oklahoma | 5.97% | 6.02% | 6.07% |
| Oregon | 5.73% | 5.77% | 5.83% |
| Pennsylvania | 6.08% | 6.13% | 6.18% |
| Rhode Island | 6.39% | 6.44% | 6.49% |
| South Carolina | 5.89% | 5.94% | 5.99% |
| South Dakota | 6.20% | 6.25% | 6.30% |
| Tennessee | 5.70% | 5.75% | 5.80% |
| Texas | 5.65% | 5.70% | 5.75% |
| Utah | 6.12% | 6.17% | 6.22% |
| Vermont | 5.99% | 6.04% | 6.09% |
| Virginia | 5.90% | 5.95% | 6.00% |
| Washington | 5.96% | 6.01% | 6.06% |
| West Virginia | 6.00% | 6.05% | 6.10% |
| Wisconsin | 6.10% | 6.15% | 6.20% |
| Wyoming | 6.15% | 6.20% | 6.25% |
| National Rates Terms | |||
| 30-year Fixed | 6.23% | 6.28% | 6.33% |
| 30-year Fixed FHA | 7.02% | 7.07% | 7.12% |
| 30-year Fixed VA | 6.46% | 6.84% | 7.03% |
| 30-year Fixed Jumbo | 7.13% | 7.37% | 7.56% |
| 20-year Fixed | 6.10% | 6.15% | 6.20% |
| 15-year Fixed | 5.58% | 5.63% | 5.68% |
| 10-year Fixed | 5.54% | 5.59% | 5.64% |
| 3-year ARM | 7.55% | 7.60% | 7.65% |
| 5-year ARM | 6.55% | 6.60% | 6.65% |
| 7-year ARM | 6.54% | 6.59% | 6.64% |
| 10-year ARM | 6.11% | 6.16% | 6.21% |
Source: MFP’s Community Home Refinance Rates Survey from the last 30 days.
Community Refinance Lenders Recommendations
Interested to see which lenders are most recommended in your state and area for VA loans? Thousands of homeowners in your state and area provide their feedback on their refinance lender. See which one could help refinance your VA loan easily.
What Affects Your VA Rate
Credit Score:
- 740+: Best available VA rates
- 680-739: Excellent rates with most lenders
- 620-679: Good ratesstill very competitive
- 580-619: Higher rates but still available
- Below 580: Limited lendershighest rates
Loan-to-Value Ratio:
- 80% LTV or lower: Best rates available
- 80-90% LTV: Standard VA rates
- 90-100% LTV: Still competitive rates
- Above 100%: Cash-out refinance rates
VA Funding Fee:
- Rate-and-term refinance: 0.50% of loan amount
- Cash-out refinance: 2.15% for first use3.30% for subsequent use
- Disabled veterans: No funding fee required
- Can be rolled into the loan balance
No Mortgage Insurance:
- VA loans never require mortgage insurance
- Saves $100-400+ per month compared to FHA/conventional
- Major advantage even with 100% financing
MFP Tip: VA rates are often the lowest available in the market. Even if your credit isn’t perfectVA loans typically beat conventional and FHA rates.
What is a VA 30-Year Fixed Refinance?
A VA 30-year fixed refinance replaces your current mortgage with a new loan backed by the Department of Veterans Affairs. Your interest rate stays the same for 30 yearsand you never pay mortgage insurance regardless of your loan amount.
How It Works
The VA doesn’t lend money directly. Insteadapproved lenders make the loanand the VA guarantees a portion of it against default. This guarantee allows lenders to offer excellent rates and terms to eligible veterans and service members.
You make 360 monthly payments that include only principal and interest – no mortgage insurance. Your rate is locked in and never changes during the loan term.
Types of VA Refinances
VA Interest Rate Reduction Refinance Loan (IRRRL): Also called VA Streamlinethis replaces an existing VA loan with minimal paperwork and no appraisal in most cases.
VA Cash-Out Refinance: Refinance for more than you owe and take the difference in cash. Available to refinance any type of existing loan into a VA loan.
VA Rate-and-Term Refinance: Replace a non-VA loan with a new VA loan to get better rates and terms. No cash out allowed.
Main Features of VA 30-Year Refinances
No Mortgage Insurance: Never requiredregardless of loan amount or down payment.
Competitive Interest Rates: Among the lowest rates available in the market.
No Down Payment Required: Can refinance up to 100% of home value (or more for cash-out).
Flexible Credit Standards: No minimum credit score requirement from VA (lenders may have minimums).
No Prepayment Penalties: Pay extra or pay off early without fees.
Assumable Loans: Qualified buyers can take over your VA loan.
Compared to Other Refinance Types
VA vs. Conventional Refinance:
- VA: No mortgage insurance ever
- Conventional: PMI required if less than 20% equity
- VA: Often lower interest rates
- Conventional: Rates vary by credit score and equity
- VA: 100% financing available
- Conventional: Typically require 20% equity for best rates
VA vs. FHA Refinance:
- VA: No mortgage insurance
- FHA: MIP required for life of loan
- VA: Often lower rates
- FHA: Competitive rates but not as low as VA
- VA: Higher loan limits
- FHA: County-based loan limits
MFP Tip: If you’re eligible for a VA loanit’s almost always your best refinancing option due to the combination of low rates and no mortgage insurance.
Pros and Cons of VA 30-Year Fixed Refinance
Benefits
No Mortgage Insurance Required: Save $100-400+ per month compared to FHA or conventional loans with PMI.
Excellent Interest Rates: VA loans typically offer the lowest rates in the marketoften 0.125-0.25% below conventional.
100% Financing Available: Refinance without any equity requirementunlike conventional loans.
Flexible Credit Standards: VA has no minimum credit scorethough lenders typically require 580-620.
No Down Payment Required: Even for cash-out refinancesyou can borrow up to 100% of your home’s value.
Streamline Option Available: IRRRL refinances require minimal documentation and often no appraisal.
Higher Loan Limits: No conforming loan limits like conventional financing.
Assumable Loans: Transfer your loan to qualified buyersmaking your home more attractive to sell.
Disabled Veteran Benefits: Veterans with service-connected disabilities pay no VA funding fee.
Cons
Eligibility Required: Only available to veteransactive militaryand surviving spouses who qualify.
VA Funding Fee: 0.50% for rate-and-termup to 3.30% for cash-out refinances (waived for disabled veterans).
Primary Residence Only: Cannot use for investment properties or second homes.
Property Requirements: Must meet VA minimum property requirements.
Uses Entitlement: Cash-out refinances from non-VA loans use your VA entitlement.
Limited Lender Network: Not all lenders offer VA loanspotentially limiting options.
When to Get a VA 30-Year Fixed Refinance
You Currently Don’t Have a VA Loan: Switch from conventionalFHAor other loan types to take advantage of VA benefits.
Interest Rates Have Dropped: Even a small rate decrease can provide significant savings with a VA refinance.
You Want to Eliminate Mortgage Insurance: Switch from FHA or conventional loans to eliminate monthly mortgage insurance payments.
You Need Cash for Major Expenses: VA cash-out refinances let you borrow up to 100% of your home’s value.
You Have an Existing VA Loan with Higher Rates: Use the VA IRRRL program for quickeasy refinancing with minimal paperwork.
Your Credit Has Improved: Better credit scores can qualify you for even lower VA rates.
You Want Payment Stability: Fixed rates protect against future interest rate increases for the full 30 years.
You’re Switching from an ARM: Lock in today’s low fixed rates before your adjustable rate increases.
You Want to Extend Your Loan Term: Switch from a 15-year to 30-year VA loan to reduce monthly payments.
MFP Tip: VA refinances make sense even for small rate improvements because there’s no mortgage insurance to factor into the break-even calculation.
How to Qualify for VA 30-Year Fixed Refinance
Main Qualification Requirements
VA Eligibility:
- Veterans with qualifying service periods
- Active-duty service members with 90+ days service
- National Guard/Reserves with 6+ years service
- Surviving spouses of eligible veterans (in some cases)
- Must have valid Certificate of Eligibility (COE)
Credit Score:
- VA has no minimum credit score requirement
- Most lenders require 580-620 minimum
- 620+ gets better rates and easier approval
- 640+ often required for cash-out refinances
Income and Employment:
- Stable employment history (typically 2 years)
- Sufficient income to support new payment
- Debt-to-income ratio usually under 41% (flexible)
- All income sources must be documented
Property Requirements:
- Must be your primary residence
- Property must meet VA Minimum Property Requirements
- VA appraisal required for most refinances
- No maximum loan amount (unlike FHA/conventional)
Loan Seasoning:
- IRRRL: 6 payments on existing VA loan
- Cash-out: 12 months since last refinance
- Rate-and-term: No seasoning required
Assets and Reserves:
- Money for closing costs and VA funding fee
- Reserves not typically required
- Funding fee can be rolled into loan balance
VA Entitlement:
- IRRRL: Uses same entitlement as existing VA loan
- Cash-out from VA loan: Uses existing entitlement
- Cash-out from non-VA loan: Uses available entitlement
- Full entitlement: $548,250 in most areas (2024)
Residual Income:
- VA requires minimum residual income after all debts
- Varies by family size and geographic region
- Example: Family of 4 in most areas needs $1,003+ residual income
MFP Tip: Get your Certificate of Eligibility (COE) before applying. You can get it online through the VA website or your lender can help obtain it.
FAQs: VA 30-Year Fixed Refinance
What’s the Difference Between VA IRRRL and Regular VA Refinance?
VA Interest Rate Reduction Refinance Loan (IRRRL):
- Only for existing VA loans
- Streamlined process with minimal documentation
- No appraisal required in most cases
- No income verification typically required
- Must result in lower interest rate or payment
- Cannot take cash out
- Fastest VA refinance option (2-3 weeks)
Regular VA Refinance:
- Available for any existing loan type
- Full documentation required
- Appraisal required
- Complete income and credit verification
- Cash-out options available
- Standard processing time (4-6 weeks)
How Much Does the VA Funding Fee Cost?
Rate-and-Term Refinance: 0.50% of loan amount.
Cash-Out Refinance:
- First use: 2.15% of loan amount
- Subsequent use: 3.30% of loan amount
Example: $300,000 rate-and-term refinance = $1,500 funding fee
Who’s Exempt from Funding Fee:
- Veterans with service-connected disabilities
- Veterans receiving disability compensation
- Surviving spouses of veterans who died from service-connected disabilities
Can I Do a VA Cash-Out Refinance?
YesVA cash-out refinances let you:
- Borrow up to 100% of your home’s appraised value
- Refinance any type of existing loan (not just VA loans)
- Take cash for any purpose (no restrictions)
- Still get excellent VA rates with no mortgage insurance
Requirements are stricter than IRRRL:
- Full income and credit verification
- Home appraisal required
- Higher credit scores typically needed (640+)
- 12-month seasoning since last refinance
Do I Need to Get My Home Appraised?
IRRRL (Streamline): Usually no appraisal required.
Cash-Out Refinance: Always requires VA appraisal.
Rate-and-Term (from non-VA loan): VA appraisal required.
VA appraisers check both value and property condition to ensure it meets VA Minimum Property Requirements.
Can I Refinance if I Don’t Have a VA Loan Now?
Yeseligible veterans can refinance any type of existing loan into a VA loan:
- Conventional loans
- FHA loans
- USDA loans
- Portfolio loans
- Any other mortgage type
This uses your available VA entitlement and requires full documentation and appraisal.
What if I’ve Already Used My VA Benefit?
You can still refinance in several ways:
- IRRRL of existing VA loan (uses same entitlement)
- If you have remaining entitlementuse it for cash-out refinance
- Sell current home and restore full entitlement
- One-time restoration of entitlement (if you’ve paid off a previous VA loan)
Most veterans have enough entitlement for refinancing even if they’ve used their benefit before.
How Long Does VA Refinancing Take?
VA IRRRL: 15-21 days due to streamlined process
Regular VA Refinance: 30-45 days
- Application and COE: 3-5 days
- Processing and documentation: 1-2 weeks
- VA appraisal: 1-2 weeks
- Underwriting: 1-2 weeks
- Closing preparation: 1 week
VA loans may take slightly longer than conventional loans due to additional VA requirementsbut the savings usually make the wait worthwhile.
MFP Tip: If you have an existing VA loan and just want a lower ratechoose IRRRL for the fastesteasiest refinance process with minimal paperwork.
More Refinance Resources for Homeowners:
30 Year Fixed Refinance Rates (by State)
15 Year Fixed Refinance Rates(by State)
Loans Comparison Calculator: HelocCash-OutHome EquityRenovation.
More Resources for Homeowners.