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2021's Best VA Refinance Lenders
Compare VA Refinance Rates
Refinance your VA home loans with one of our top-tier lenders
2021's Best VA Refinance Lenders
Refinance your VA home loans with one of our top-tier lenders
2021's Best VA Refinance Lenders
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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.
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 6,937 Reviews
4.2
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).
8.4
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 17,676 Reviews
4.4
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).
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
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).
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
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).
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
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).
Type of lender
Direct lenders provide loans to borrowers. Marketplaces help borrowers compare direct lenders.
Direct
Direct
Marketplace
Marketplace
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
Key figures
Repayment terms
Number of years to pay off loan
10-30 years
15, 25, 30
15, 20, 30
15-30 years
10, 15, 20, 30
ARM terms
ARMs have fixed rates for the first 3-10 years, after which they are adjusted annually until loan is paid
5/1, 7/1, 10/1
5/1
5/1, 7/1, 10/1
3/1, 5/1, 7/1, 10/1
3/1, 5/1, 7/1, 10/1
Credit Score
Minimum credit score required
580+
620+
580+
620+
580+
Loan Types
VA Purchase Loan
VA Jumbo Loan
VA IRRRL Refinance
VA Cash-Out Refinance
Operations
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
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 6,937 Reviews
4.2
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).
1
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 17,676 Reviews
4.4
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).
2
  • America’s largest mortgage lender
  • Real-time updates on loan progress
  • Custom loans to suit your goals
8.4
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
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).
3
  • 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
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).
4
  • 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
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).
5
  • 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
    #1
    View Rates
    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.
    #2
    View Rates
    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.
    #3
    View Rates
    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
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