Yes, if you have an existing VA mortgage, you can refinance it through the VA’s Interest Rate Reduction Refinance Loan (IRRRL) program. This program, often referred to as VA Streamline Refinance, allows veterans to take advantage of lower interest rates.
The process is typically faster and requires less paperwork than a standard refinancing process. If you’re looking to refinance a non-VA loan into a VA Loan, you can use the VA’s cash-out refinance loan as an alternative option. This allows veterans to refinance their conventional or FHA loan into a VA mortgage, potentially benefiting from the VA’s favorable terms.