Compare current VA refinance rates

Today’s VA refinance interest rates

For today, Friday, May 01, 2026, the national average 30-year VA refinance interest rate is 6.51%, up compared to last week’s rate of 6.46%. 

Right now, VA loan rates are tracking closely with their conventional counterparts. Both are expected to remain steady throughout the beginning of 2026. Even if the rates are the same, there are many reasons to choose a VA refinance. For one, the credit score requirements can often be lower. Plus, if you go with a streamlined VA refinance, the process is often cheaper and faster than a typical conventional refinance.

National refinance rates by loan type

Mortgage refinance interest rates vary based on loan term, type and other factors.

What factors impact VA refinance rates?

Like other types of loans, there are a variety of factors that affect VA loan refinance rates, including:

• Credit score and debt-to-income (DTI) ratio
• Type of refinance
• Loan amount and term
• Inflation, market conditions and other economic factors

Types of VA refinance loans

There are two main ways to refinance a VA loan:

• VA streamline refinance: Also called an Interest Rate Reduction Refinance Loan (IRRRL, pronounced “earl”), this type of VA refinance doesn’t require an appraisal or credit check. This can be a great option for VA borrowers who want to refinance to a lower rate.
• VA cash-out refinance: With a VA cash-out refinance, you can refinance your current mortgage — regardless of whether it's a VA loan or conventional loan — into a larger one, and get the difference between your old and new balance in cash. 

How to find the best VA refinance rate

If you’re considering a VA refinance, there are several ways to help ensure you get the best possible rate. Here are our tips: 

Who qualifies for a VA refinance loan?

To qualify for any VA loan, you’ll need to meet specific military service requirements and have a VA certificate of eligibility (COE). The service requirements generally are as follows:

• You’re currently on active military duty and have served at least 90 consecutive days;
• You're a veteran who was honorably discharged and meet the minimum service requirements (see link below), which vary depending on when you served;
• You are serving or have served in the National Guard or Selective Reserve and meet the minimum service requirements (see link below); or
• You're a surviving spouse and either you're eligible for certain types of VA compensation or your spouse is an active-duty service member who is missing in action or a prisoner of war.

Check out the VA's page on minimum service requirements.

Depending on the type of VA refinance you’re after, there might be additional requirements. For example, VA streamline refinances don’t require some underwriting verifications, but you need to confirm that you live or lived on the property. VA cash-out refinances, on the other hand, are allowed only on a primary residence where you currently live. Keep in mind, too, that lenders get to set their own criteria for borrowers.

Benefits of a VA refinance loan

A VA refinance loan can save you money and involve less paperwork compared to a conventional refinance. Here are some of the main benefits:

• Competitive rates: VA refinance rates are often lower in relation to other loan types, which can help maximize your savings.
• Low funding fee: The funding fee for a VA streamline refinance is just 0.5%.
• Quicker process: If you go the streamline refinance route, you’ll skip some of the usual steps in the underwriting process — including the appraisal, credit check and income verification.

Additional VA refinance resources

• VA loan calculator
• VA loans vs. conventional loans
• VA loan resources
• Best VA loan lenders

Meet our Bankrate experts

Written by: Jeff Ostrowski, Writer & Housing Market Analyst

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

Read more from Jeff Ostrowski

Edited by: Katie Lowery, Editor, Home Lending 

I'm an editor on the Loans and Home Lending teams, where I shape content to help people navigate borrowing money, personal finance and overall financial health. I'm a Certified Financial Health Counselor and have 12 years of experience editing financial and economic content.

Read more from Katie Lowery