VA Refinance Rates Today

Average market rates for December 03, 2025 are 5.68% for 30-year fixed VA refinance and 5.30% for 15-year fixed VA refinance

How we source rates and rate trends

VA Interest Rate Trends

Like all mortgage rates, VA rates skyrocketed in early 2022. Fortunately, they’ve been falling again. Someone who purchased a home since mid-2022 could potentially save with a refinance. 

Plus, VA loan rates are typically lower than other loan types. If you have a conventional or FHA loan, but have served in the military, it’s worth seeing if you can lower your rate and eliminate monthly mortgage insurance with a VA loan.

Will VA Refinance Rates Fall?

Mortgage rates of all kinds are unpredictable. There’s always a chance they could fall or rise.

That being said, mortgage rates seem to be trending downward as the Federal Reserve is expected to cut its key interest rate through 2025 according to its projection materials.

Additionally, Fannie Mae expects mortgage rates to continue dropping into 2025. While projections aren’t always reliable, the consensus is that mortgage rates, including VA loan rates, could continue to drift downward.

What Impacts VA Interest Rates?

The biggest driver of VA rates is what’s happening in the market. Mortgage rates of all kinds go up and down daily just like stock prices. News affects where they go.

Mortgage rates might go up if:

• Inflation is high
• The economy is strong
• Unemployment is low
• The Federal Reserve hikes its federal funds rate to cool the economy

Mortgage rates might drop if:

• The economy enters a recession
• Job losses are greater than expected
• Geopolitical events like wars appear likely
• The Fed cuts rates to boost the economy

In general, better economic indicators mean higher rates. A slower economy usually means lower rates.

More VA Refinance Information

Types of VA Refinances

There are two types of VA refinances.

VA Streamline Refinance: Also called an IRRRL, this program allows current VA loan holders to refinance into a lower rate more easily when rates drop. No pay stubs, tax returns, W2s, or bank statements are required. Additionally, you don’t need an appraisal. This results in a faster, easier, cheaper refinance.

VA Cash-Out Refinance: You can tap into your home’s equity for a remodel, debt consolidation, or any other purpose. You can also convert a conventional loan or FHA loan to a VA loan to eliminate mortgage insurance, drop your rate, or both.

Reasons to Refinance

The reasons people refinance are nearly unlimited. Most often, homeowners want to:

• Reduce their rate, lowering their payment and interest paid over the life of the loan
• Shorted their loan term from 30 years to 15-years
• Get cash for renovations or debt consolidation
• Consolidate a home equity line or loan, or other additional lien
• Change mortgage programs (such as FHA to VA)
• Eliminate mortgage insurance payments
• To take out cash as part of a divorce settlement

But it’s not always a good idea to refinance. If you plan to have the home only a few more years, you likely won’t make back the money you spend on closing costs. Additionally, it’s also not a good idea to remove equity from your home for a depreciating asset like a car or vacation.

How Soon Can You Refinance?

There are a few timing considerations when looking into a VA refinance.

Seasoning: The VA states that 210 days must pass after the first payment on the existing loan before you can use a VA Streamline Refinance.

Net Tangible Benefit: To qualify for a VA refinance, the loan must benefit you. This means you are reducing your rate by at least 0.50% for fixed-rate refinances, changing an adjustable rate loan to a fixed rate, getting cash out, or receiving another approved benefit.

Break-Even Point: Your monthly savings should justify closing costs spent on the refinance. For VA loans, you must recoup closing costs within 36 months to be eligible in most cases.

The Costs of Refinancing

Refinancing isn’t free. In fact, it can costs thousands of dollars, even if it’s rolled into the new loan. It’s important to make sure the refinance is worth it. VA refinance costs can include:

• Origination fee of up to 1%
• VA funding fee (typically wrapped into the new loan)
• Title report
• Credit report
• Flood zone determination report
• Surveys
• Appraisal (if one is required)

The VA loan borrower is not allowed to pay:

• Application or processing fees
• Escrow or notary
• Tax service
• Doc prep fees
• Settlement fees

Some lenders can offer a higher-than-market rate (that still could be lower than your current rate) and pay for some or all your closing costs on a VA refinance.

Be Sure to Shop Multiple Lenders

There is no single rate for all VA loans. Lenders offer different rates depending on internal goals. Some lenders want to increase their VA loan production and will therefore drop their rates for a time. Another lender may want to limit their VA loans and increase their rates.

The trick is to find an experienced lender that is also offering competitive rates at the time you’re looking. There’s no way to know which lenders are offering low rates without calling at least three on the same day and getting a Loan Estimate or LE from each one.

Following are lenders with the highest VA loan production recently. 

Top VA Purchase Lenders for October 2026

Note: The Department of Veterans Affairs typically updates their VA loan statistics monthly. October 2026 is the most recent data.

• 356218: 2,147,483,647 VA loans guaranteed
• 399633: 2,147,483,647 VA loans guaranteed
• 390666: 2,147,483,647 VA loans guaranteed

VA loan data sourced from the the Department of Veterans Affiars (VA).

VA Refinance Rates: Is it Time To Refinance?

As a Veteran, you have access to low mortgage rates through the VA loan. If you’re curious whether you can save money each month or take cash out to fund upcoming goals, a VA refinance is a great first place to look.

Get started here.