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VA home loans can be used to help Purchase a new home or Refinance an existing mortgage with either the IRRRL Streamline Refinance or a cash out refinance. VA loans are one of the most popular choices among eligible first time home buyers because of the exceptional benefits they offer military borrowers.


VA homeowners can lower their interest rate with little or no out-of-pocket costs with a VA Streamline Refinance program. These loans can also be made faster and with less documentation than a typical loan.

An Interest Rate Reduction Refinance Loan (IRRRL) or Streamline Refinance allows you to refinance your current mortgage interest rate to a lower rate than you are currently paying (or to refinance from an adjustable-rate mortgage into a fixed-rate one). This is only available to veterans who are refinancing a VA mortgage.

“No Cost” Streamlines let you refinance your mortgage with no out-of-pocket expenses. One option is to let the lender pay the costs in exchange for a higher interest rate. Another option that lets you obtain market rates is to roll the closing costs into the new loan.

Unlike a Cash-Out refinance, veterans don’t need to intend to occupy the home to obtain a Streamline refinance. Prior occupancy is all that’s required for a Streamline. Some lenders may not require a credit score or appraisal in certain situations for veterans considering a VA Streamline.

Portrait of smiling african american girl holding usa flag embracing army father on his return. family, bonding and patriotism, unaltered.


As an approved VA mortgage lender and over 20 years of direct lender experience, Giving Tree Lending is the #1 choice when considering a lender for your VA home loan. Our loan process is easy and we tailor every loan to meet your goals and needs.

What veterans can do with a VA loan


Let your military service
help you purchase a home.


Take advantage of low interest
rates with a VA Refinance.


Lower your rate and pay off debt
with a VA Cash Out Refinance.


A VA refinance transaction involves repayment of your current real estate debt from the proceeds of your new VA mortgage that has the same borrower(s) using the same property. This is called a “Cash-Out” Refinance.

Man and child celebrate fourth of july with american flag in nature

Here are a few common reasons to take cash out of the equity in your home:

  • Consolidate high interest credit card debt.
  • Pay for college tuition.
  • Buy a new car.
  • Make home improvements to your home.

Cash-Out Refinances are used for homes that are used as a principal residence by its owner. That owner can refinance in some cases up to 100 percent of the home’s appraised value plus allowable costs and fees. Homeowners who have sufficient equity in their homes may be able to take out cash beyond what they owe on their mortgage.

This VA refinance option is available to veterans who currently have a VA loan as well as to those who have other types of home financing. The Cash-Out option is how a veteran with a non-VA-loan can obtain a VA-backed mortgage. Credit and underwriting standards can vary, and they’re typically more like a VA purchase loan when pursuing a Cash-Out refinance.

VA loans versus conventional loans

VA loans are a great choice for veterans who want to live in the house they are buying. Compared to conventional loans, VA loans have no down payments, low minimum credit score requirements, competitive interest rates, no private mortgage insurance, and more.

You can only buy a primary residence with a VA loan. You can’t use a VA loan to purchase a vacation home, investment property, or rental property. You can use a conventional loan to buy these types of property if you qualify.

VA loans have limits on the amount of money you can borrow. Conventional loans also have limits, although borrowers who qualify may be able to get a jumbo loan to buy more expensive properties.

Both VA and conventional loans have additional costs added to their loans. Conventional loans have an application fee and closing costs. VA loans include a funding fee that is dependent on the amount of your down payment. This fee can be rolled into the closing costs.

Ask our Loan Advisors about VA home loans and home loan refinancing! Call us at (800) 921-1695.

VA Loan Advantages

VA Loan Advantages

Zero Down Payment

The VA home loan benefit can free you from limitations. With zero down, your choice of home isn’t restricted by your down payment savings. Instead, your money is freed up to use for other purposes: home improvements, education, vacations, or a rainy day fund. Over 20 million servicemembers and Veterans have taken advantage of this tremendous benefit.

VA Loan Guaranty

VA home loans are backed by the government and made by approved lenders. And because the VA guarantees a portion of these loans for lenders, the program can offer special benefits. One of those benefits is 100% financing, which can mean a VA loan with no down payment for eligible Veterans.

No PMI, and Other Savings

Government backing and a funding fee allow lenders to offer VA loans with zero down payment and with no private mortgage insurance (PMI). These and other benefits of the program have allowed millions to get home loans with money-saving features. In addition to not paying for PMI, other important ways you may save with a VA loan include:

  • No down payment
  • Competitively low interest rates
  • No penalty for early payoff
  • Streamlined refinancing program
  • Limits on allowed fees


As an approved VA mortgage lender and over 20 years of direct lender experience, Giving Tree Lending is the #1 choice when considering a lender for your VA home loan. Our loan process is easy and we tailor every loan to meet your goals and needs.