Rate & Term
- Primary Residence
- Traditional
- 580 Min FICO
- 100% Max LTV
The VA Refinance Program helps eligible U.S. veterans, active-duty service members, and surviving spouses refinance their existing mortgages with competitive terms and flexible guidelines. It allows borrowers to access home equity, reduce their interest rate, or lower monthly payments while keeping the benefit of no monthly mortgage insurance and favorable credit requirements.
This program is ideal for borrowers who:
- Are veterans, active-duty service members, or eligible surviving spouses.
- Want to lower their interest rate or monthly payment.
- Need to switch from a non-VA loan to a VA loan without pulling cash out.
- Prefer a program with no monthly mortgage insurance and lenient credit standards.
Property Type | Credit Score | Max LTV/CLTV | Notes |
|---|---|---|---|
SFR | 580+ | 100% | Certificate of Eligibility required. Must occupy as primary residence. |
2-4 units | 580+ | 100% | Borrower must occupy one unit. |
Condo | 580+ | 100% | Must be VA-approved project. |
Manufactures Home | 580+ | 100% | Must be on permanent foundation and meet VA manufactured housing standards. |
Occupancy Requirement |
|---|
Primary Residence Only Borrower must currently occupy the home as their primary residence and continue to occupy it after refinancing. |
Military stationed > 100 miles away Active-duty service members who are temporarily deployed or stationed more than 100 miles away are considered to meet the occupancy requirement if a spouse or dependent continues to occupy the property. |
Residency Eligibility |
|---|
Eligible
|
Ineligible
|
Income Consistency Requirements |
|---|
Employment History
|
Notes
|
Income Type | Requirement | Documentation |
|---|---|---|
Wage Earner | 2 years employment history; gaps >6 months require explanation + 6 months current employment. | 30 days paystubs + 2 years W-2s; VOE if required. |
Self-Employed | 2 years of self-employment required (1 year acceptable with strong file + prior related work/education). Must show stable or increasing income. | 2 years tax returns; YTD P&L; business bank statements if requested. |
Part Time | 2-year history required; must be likely to continue. | W-2s, paystubs, VOE verifying hours and history. |
Seasonal | 2-year history required; must be likely to continue. | W-2s, paystubs, VOE or employer letter confirming rehire pattern. |
Military Allowances (BAH, BAS, COLA, etc.) | Must be documented; generally considered stable if received currently and expected to continue. | LES (Leave & Earnings Statement), orders, or verification from commanding officer. |
Social Security, Disability, and Retirement Income | Must be expected to continue ≥ 3 years. | Award/benefit letter (SSA, pension, disability) + proof of receipt (bank statements, 1099s, or deposits). |
Alimony / Child Support | Must be court-ordered or written agreement; ≥ 3 years continuance. | Divorce decree, separation agreement, or order + 6 months proof of receipt. |
Loan Amounts |
|---|
Minimum Loan Amount $50,000 minimum (case-by-case exceptions possible). |
Maximum Loan Amount $2,000,000 (investor overlay). |
Property Types |
|---|
Eligible
|
Ineligible
|
Disclaimer – This matrix was published on 09/26/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.
Contact Loan Officer
Alexis Andrade
Mortgage Loan Officer
NMLS #2553405
alexis@sjmorganple.com