VA Refinance Calculator
Calculate your potential savings with a VA loan refinance. Compare IRRRL vs Cash-Out refinance options and see how much you could save monthly and over the loan term.
Step 1: Current Loan Details
VA Loan Benefits
VA loans offer competitive rates and no private mortgage insurance (PMI). Refinancing can lower your monthly payment or provide cash for home improvements.
Step 2: Refinance Options
IRRRL vs Cash-Out
IRRRL (Interest Rate Reduction Refinance Loan) is a streamline refinance requiring less paperwork. Cash-Out allows you to tap into home equity but may have higher rates.
VA Refinance Savings Results
Estimated Monthly Savings
Refinance Type Comparison
| Refinance Type | Monthly Payment | Monthly Savings | Closing Costs | Break-Even Period |
|---|
Payment Breakdown Analysis
VA Refinance Calculation Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12), n = Total number of payments (loan term in years × 12). This formula calculates the fixed monthly payment for a fixed-rate mortgage.
Need VA Loan Expert Advice?
Connect with our VA loan specialists for personalized refinance analysis, eligibility verification, and finding the best rates for your specific situation.
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