Whether you’re lowering your payment or accessing equity, VA has your back.

If you already have a mortgage — especially a VA loan — refinancing could help you save money or unlock the equity in your home to take care of bigger goals.

👉 The VA offers two main refinance options:

1. The VA IRRRL (Interest Rate Reduction Refinance Loan)
2. The VA Cash-Out Refinance

Both options are built to help veterans manage their housing costs or convert equity into opportunity — all with fewer hoops than conventional refis.

Let’s break down how each one works and when to use them.

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🔁 VA IRRRL (Streamline Refinance)

This is the easiest way to lower your rate or payment — if you already have a VA loan.

✅ Benefits:

• No appraisal required
• No income verification
• Low funding fee
• Fast closings (as little as 10–20 days)
• Minimal documentation

💡 The VA Streamline is designed to help you refinance without requalifying — saving time, stress, and paperwork.

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🧠 When to Use an IRRRL:

• You want to lower your monthly payment
• You want to switch from an ARM to a fixed rate
• You got your VA loan when rates were higher
• You don’t need to pull out any cash

📘 You must have made at least 6 on-time payments on your VA loan and show a “net tangible benefit” (like a lower rate or payment).

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💸 VA Cash-Out Refinance

If you want to refinance and pull out cash — whether you currently have a VA loan or not — the VA cash-out is a great option.

✅ Benefits:

• Borrow up to 100% of your home’s value (depending on lender overlays)
• Use the cash for:
  • Debt consolidation
  • Home improvements
  • Emergency savings
  • Education or business funding
• Replaces any current loan (VA, FHA, Conventional, etc.)

💡 Even if you don’t currently have a VA loan, you can still use the VA cash-out refinance if you’re eligible for VA benefits.

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🧠 When to Use a Cash-Out:

• You want to pay off high-interest debt
• You want to renovate or remodel your home
• You want to consolidate multiple mortgages into one
• You’re looking to tap into your equity for long-term financial planning

📘 We’ll help you determine how much equity you can access and whether it’s the smartest move in your situation.

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🧾 What About the VA Funding Fee?

Both refinance options include a VA funding fee, which:

• Helps keep the program self-sustaining
• Is waived for veterans with a service-connected disability rating
• Can be rolled into the loan amount

We’ll calculate your exact funding fee and show how it impacts your monthly payment — no surprises.

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🏢 Why PRMI?

As a VA-approved direct lender, we:

• Offer both IRRRL and VA Cash-Out Refi options
• Help you compare payment savings vs. equity access
• Know how to structure even low-credit or higher-DTI refis
• Support you through every step — with in-house processing and VA loan expertise

We’ve helped thousands of veterans refinance with confidence and clarity.

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👇 Want to See If a VA Refi or Cash-Out Is Right for You?

We’ll show you how much you could save — or how much equity you could access — with no obligation.