What is a VA loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs and originated by approved lenders. It can be used for eligible purchase and refinance transactions subject to VA rules and lender requirements.
VA loan eligibility
Eligibility is tied to qualifying military service and entitlement. Borrowers also must satisfy the applicable lender requirements for the transaction. For a detailed overview, see the VA loan eligibility guide.
Core VA loan benefits
- No monthly mortgage insurance
- Potentially competitive financing terms for qualified borrowers
- Purchase and refinance options
- Specialized streamline refinancing for borrowers who already have a VA-backed mortgage
Already have a VA mortgage? Start with the VA IRRRL hub
If you already have a VA-backed mortgage and your goal is to lower the interest rate or payment or move from an adjustable rate to a fixed rate, review the VA IRRRL Streamline Refinance hub. The hub explains eligibility, appraisal treatment, seasoning, Net Tangible Benefit, occupancy, closing costs, lender overlays and break-even analysis.
Useful IRRRL guides include VA IRRRL requirements, IRRRL closing costs, seasoning requirements, Net Tangible Benefit, and VA IRRRL vs. VA cash-out refinance.
VA IRRRL guidance by licensed state
Borrowers in 360 Mortgage’s licensed VA IRRRL markets can go directly to the appropriate state guide and loan officer:
- Louisiana VA IRRRL — refinance guidance with Lyndi Gajan
- Missouri VA IRRRL — refinance guidance with Vickie Talley
- Kansas VA IRRRL — refinance guidance with Kathy Keithley
VA IRRRL versus other refinance paths
An IRRRL is specifically for an existing VA-backed loan and is not designed for equity cash-out. If you need to access equity or refinance a non-VA mortgage into VA financing, compare the separate VA cash-out program and broader mortgage refinance options. You can also review when refinancing makes sense and refinance closing costs.
VA purchase loan state guides
Common VA loan questions
Can I refinance an existing VA loan?
Yes. Depending on your goals, an existing VA-backed loan may be refinanced through a VA IRRRL or another eligible refinance structure. Start with the VA IRRRL guide if your primary goal is rate or payment improvement.
Does a VA IRRRL require an appraisal?
VA does not require an appraisal for an IRRRL, although an individual lender may apply additional requirements. See the VA IRRRL appraisal guide.
How soon can I refinance?
Timing depends on the refinance program and applicable seasoning rules. See VA IRRRL seasoning requirements and the broader how-soon-can-I-refinance guide.
Purchase or refinance with a VA loan
Tell us whether you are buying, refinancing for rate/payment improvement, or considering equity access so we can point you to the appropriate VA path.
Start an application · Contact 360 MortgageGeneral educational information only; not a commitment to lend or a quote of current rates. Loan programs and lender requirements are subject to change. 360 Mortgage Inc. NMLS ID 80777.