A veteran with six years of on-time VA loan payments can often refinance to a lower rate through an Interest Rate Reduction Refinance Loan, with a smaller funding fee and far less paperwork than a new purchase.
A veteran with PCS orders and a VA loan still on the books doesn’t have to sell first. Second-tier entitlement, tied to the new county’s loan limit, can still get a second VA loan approved with zero down.
A VA loan lender will not quote a rate without a Certificate of Eligibility, and the service minimum behind it changes depending on exactly when you served.
A veteran buying his first home was quoted a funding fee that would have added over $6,000 to his loan – a disability compensation claim he hadn’t finished filing could have erased it completely.