Yes. The only thing to be mindful of is how you refinance the loan because the refinancing procedure varies depending on the type of mortgage. For instance, VA loans can only be refinanced through the VA’s Interest Rate Reduction Refinance Loan program. Similarly, if you want to refinance an FHA loan without resorting to extensive underwriting or providing in-depth credit documents, you can only do so through the FHA’s Streamline Refinance program.