2021's Best VA Refinance Lenders

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Best VA Refinance Lenders of April 2021

VA mortgage loans with $0 down

Find a no-nonsense VA home loan with one of these top-tier lenders. Compare and choose today.

Best VA Refinance Lenders of April 2021

Find a no-nonsense VA home loan with one of these top-tier lenders. Compare and choose today.

Best VA Refinance Lenders of April 2021

Last Updated April 2021

Selected mortgage lenders for you

9.8

Digital lender with great rates

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9.4

Nation’s largest mortgage lender

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9.1

Works specifically with VA loans

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+ Filters

How We Score

We show product scores to help you choose the right mortgage for you. Here’s how they’re calculated

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

TrustPilot Score

TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).

User Engagement Score

Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated based on the number of clicks a brand’s chart listing has received in the past 7 days. The greater the proportion of clicks a specific brand receives relative to the other brands listed on the chart, the higher their user engagement score.

The User Engagement score is calculated separately based on the user’s device (mobile engagement is scored independently of desktop engagement, for example), and also by the specific type of mortgage loan they are comparing.

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

Low Rates

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Our Score

9.2

Excellent

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

Based on 7,054 Reviews

4.2

User Engagement

Based on the past 7 days

5.0

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

8.2

Very Good

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

Based on 17,709 Reviews

4.4

User Engagement

Based on the past 7 days

3.8

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

8.0

Very Good

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

No reviews on

User Engagement

Based on the past 7 days

4.0

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

6.0

Fair

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

No reviews on

User Engagement

Based on the past 7 days

3.0

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

7.2

Fair

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

No reviews on

User Engagement

Based on the past 7 days

3.6

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

Type of lender

Direct

Marketplace

Bottom line

Digital lender, strong reputation

America's largest mortgage lender

VA loan comparison tool

Speedy VA loan comparison tool

Best place to compare VA loans

Top feature

Range of closing cost options

Custom loans to suit your goals

Network of 240+ lenders and agents

No need for social security number

Network of 270+ VA lenders

Review

Read Review

More Info

Visit Site >

Key figures

Repayment terms

10-30 years

15, 25, 30

15, 20, 30

15-30 years

10, 15, 20, 30

ARM terms

5/1, 7/1, 10/1

5/1

5/1, 7/1, 10/1

3/1, 5/1, 7/1, 10/1

Credit Score

580+

620+

580+

620+

580+

Loan Types

VA Purchase Loan

VA Jumbo Loan

VA IRRRL Refinance

VA Cash-Out Refinance

Operations

States

Loans issued / year

1,110

38,188

N/A

Application methods

Online, phone, live chat

Online, phone

Online

24-hour contact

Assistance with COE

More Info

Bottom Line

Digital lender, strong reputation

America's largest mortgage lender

VA loan comparison tool

Speedy VA loan comparison tool

Best place to compare VA loans

Review

Read Review

More Info

Visit Site >

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

Based on 7,054 Reviews

4.2

User Engagement

Based on the past 7 days

5.0

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

Low Rates

Get pre-qualified in 3 minutes
View rates without hard credit Pull
Digital lender with strong reputation

9.2

Excellent

View Rates

Read Review

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

Based on 17,709 Reviews

4.4

User Engagement

Based on the past 7 days

3.8

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

America’s largest mortgage lender
Real-time updates on loan progress
Custom loans to suit your goals

8.2

Very Good

View Rates

Read Review

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

No reviews on

User Engagement

Based on the past 7 days

4.0

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

Works specifically with VA loans
Get discounts for past service

8.0

Very Good

View Rates

Read Review

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

No reviews on

User Engagement

Based on the past 7 days

3.0

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

Quick and easy comparison tool
A+ rating from Better Business Bureau

6.0

Fair

View Rates

Read Review

Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores

No reviews on

User Engagement

Based on the past 7 days

3.6

The brand’s chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand’s User Engagement score.

Best place to compare VA loans
Network of 270+ VA lenders
Loads of useful information about VA loans

7.2

Fair

View Rates

Read Review

Introduction to VA Loans

VA loans are mortgage loans issued by private lenders authorized by the federal government’s Department of Veteran Affairs (VA). VA-authorized mortgage lenders may issue VA loans to active service members, veterans, or surviving spouse who meet all the VA’s qualifying requirements and wish to buy, build, repair, retain, or refurbish a primary residence.

The VA guarantees a quarter of the loan up to the limit set by the Federal Housing Finance Agency (FHFA). In 2021 the FHFA set the conforming limit at $548,250 in most of the country (except in a small number of high-priced areas such as New York and San Francisco, where the limit is higher). Therefore, in most of the country, the limit for a VA loan is $548,250, of which the VA guarantees $137,063.

The federal government’s financial support is what enables lenders to offer VA loans with zero down payment and no private mortgage insurance. VA loan rates are generally similar to conventional loan rates; like a conventional loan, VA loan rates depend heavily on the borrower’s credit score and other factors.

VA loans have helped more than 25 million veterans purchase or refinance since the GI Bill came into effect in 1944. A record amount of VA loans were issued in 2020, with 1.247 million loans at an average loan amount of $301,044 for a total loan amount of $375.45 billion. A record number of lenders participated in VA loans in 2020, with 1,429 lenders issuing at least one VA loan, 137 lenders issuing more than one thousand VA loans, and 21 lenders issuing more than ten thousand VA loans.

Types of VA Loans

The five types of VA loan are: VA purchase loan, VA jumbo loan, VA cash-out refinance loan, VA Interest Rate Reduction Refinance Loan (IRRRL), and Native American Direct Loan (NADL).

VA purchase loan

A VA purchase loan requires no down payment, provided the sales price isn’t higher than the appraised value. That aside, VA purchase loans are similar to other purchase loans in terms of the interest rates and repayment terms.

VA jumbo loan

Some lenders offer VA jumbo loans above the FHFA’s conforming limits, although these require down payment. As mentioned earlier, the 2021 conforming limits range from $548,250 in most counties to $822,375 in America’s most expensive zip codes, so any loan above these amounts takes you into VA jumbo territory.

VA cash-out refinance loan

A VA-backed cash-out refi can be used to refinance a VA or non-VA loan into a VA-backed loan. The “cash-out” part is applied when the new mortgage is greater in value than what you owe on the old loan, allowing you to cash out the difference. A VA cash-out refi can be used for any purpose such as paying off debt, paying tuition fees, making home improvements, or anything else.

VA Interest Rate Reduction Refinance Loan (IRRRL)

If you have an existing VA-backed home loan and live in or used to live in the home covered by the loan, then you can refinance with a VA IRRRL, also known as a VA streamline program. Overall, VA IRRRL rates tend to be lower than conventional refinance options.

Native American Direct Loan

Native American veterans (and non-Native American veterans married to Native Americans) may be eligible for this type of loan. Unlike the other types of VA loans, the Native American Direct Loan is offered directly through the VA and not by private lenders.

How to Apply for a VA Loan

The following people may be eligible for a VA home loan:

Our Top Mortgage Lenders

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Pros

Offers Fannie Mae 3% down conventional loans
Loan experts are on hand to assist at any time
Full suite of non-conventional loans

Cons

Rates not advertised publicly
No weekend phone hours
Not licensed in NY

AmeriSave Mortgage Corporation is a direct mortgage lender operating in 49 states and DC. Since 2002, it has financed more than $220,000 homes to the tune of $52 billion in funding. It is known for its competitive rates and streamlined application, with approvals in as quickly as 25 days. It offers a wide range of loans, making it a good choice for anyone looking to purchase a home or refinance their mortgage.

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Pros

100% online application (in most cases)
Quick pre-approval and closing times
Flexible repayment terms (8-29 years)

Cons

No branches
Lack of support for self-employed borrowers
Your data may be shared across Quicken partners

If you’re looking for an easy and comfortable loan, QuickLoans can help. Not only do QuickenLoans help ensure you get a mortgage that’s right for you to save time, but the platform ensures you are aware of your loans status 24/7 so you can keep track of what is required of you and what has already been done to avoid repeating steps that have already been completed, saving you time and confusion.

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Pros

Lets you quickly scan the VA loan market
Results in your inbox instantly
No SSN or hard credit query

Cons

Expect to receive lots of phone calls
Not a licensed broker or lender

VA Rate Guide is a free loan matching service specializing in VA loans and other types of mortgage loans. Its huge network of lenders (numbering in the hundreds) includes specialist VA lenders and large national lenders. After you complete the short online form, VA Rate Guide quickly scans its network and connects you to the top VA and mortgage lenders.

Other VA Loan Benefits

APR is one of the most important factors in choosing a loan, but it isn’t the only factor. It’s a good thing then that VA loans offer these additional benefits:

Equal opportunity for all eligible veterans
Loan is re-usable
No down payment, as discussed earlier
No need to purchase private mortgage insurance
VA funding fee can be wrapped into the cost of the loan. Anyone receiving VA disability compensation is exempt from funding fee
VA staff can assist if the home buyer becomes delinquent on their loan
A first-time home buyer can use a VA, and so too can someone on their second, third or tenth home – just as long as you use the home as your primary residence

Digital lender with great rates

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Nation’s largest mortgage lender

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Works specifically with VA loans

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Credit Score: Key to Getting the Best Mortgage Interest Rates in 2021

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How to Decide if Now is the Right Time to Refinance Your Mortgage

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Complete Guide to Mortgage Loan Products in 2021

Searching for a mortgage is like searching for a home – they come in all shapes and sizes. When buying a home, people usually think about which area they want to buy and how much they’re willing to spend before approaching real estate agents. The same goes for mortgages: first, you need to know which type of mortgage you prefer before going shopping for a mortgage lender.

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How Long Can Mortgage Rates Stay Near Historical Lows?

It may be hard to believe, but mortgages are almost the cheapest they have been at any time in American history. The average 30-year fixed-rate mortgage stood at 3.13% at the start of April 2021, and while this is a slight increase from the low of 2.65% recorded on January 6, it is actually lower than at any other time in history before the coronavirus hit in early 2020. In fact, mortgage rates never went below 5% until the global financial crisis in 2007-09 and double-digit rates were fairly common in the 1970s, ‘80s and early ‘90s.

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If you qualify as a first-time buyer and have begun shopping around for a mortgage and a new home, we have good news to tell you: some of the nation’s best lenders will be willing to offer you a home loan with a down payment of less than the usual 20%. All you need to do in return is pay private mortgage insurance (PMI), which typically costs 0.5% to 1% of the value of the loan annually.

Find the Best VA Home Loans Lenders

VA home loans have helped more than 22 million veterans purchase their own home since the 1940s and continues to be available today through some of the nation’s best mortgage lenders

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If you’re a home owner and find yourself in need of a large amount of cash to fund a major expense such as a renovation, medical expenses, or your kids’ college tuition, one type of loan you should consider is a home equity loan

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