For those who served

VA

Zero-down options and no monthly mortgage insurance for eligible borrowers. Entitlement, qualification and property requirements apply; a funding fee may apply.

VA Purchase Loan

A VA Purchase loan is a mortgage program designed to help eligible veterans, active-duty military personnel, and qualifying surviving spouses purchase a primary residence with exceptional financing advantages. Backed by the U.S. Department of Veterans Affairs, VA Purchase loans are widely considered one of the strongest home financing benefits available.

One of the biggest advantages of a VA Purchase loan is the ability for qualified borrowers with full entitlement to obtain 100% financing, allowing eligible veterans to purchase a home with zero down payment and no monthly mortgage insurance requirement.

WestFi is not a government agency and is not affiliated with the U.S. Department of Veterans Affairs or any other government agency. VA loans are guaranteed in part by the U.S. Department of Veterans Affairs. Eligibility, participating-lender approval, and program requirements apply.

VA Purchase loans are commonly used for:

First-time homebuyers
Military relocations
Primary residence purchases
Higher-priced home purchases with no down payment
Buyers seeking lower upfront costs

Additional advantages may include:

Competitive interest rates
Flexible credit guidelines
Seller-paid closing costs
Limited closing cost restrictions
No monthly mortgage insurance
Flexible underwriting standards

VA underwriting considerations:

Credit, income, residual income, entitlement and property requirements apply
Debt-to-income requirements vary with the complete borrower profile and lender review

VA underwriting includes credit, income, residual income, entitlement, property and other program requirements.

VA IRRRL (Interest Rate Reduction Refinance Loan)

Streamlined refinancing for existing VA loans. VA generally does not require an appraisal or a credit-underwriting package for an IRRRL. Participating lenders may require additional documentation. Existing VA loan and program requirements apply.

The VA IRRRL program is one of the simplest and most streamlined refinance options available because it often requires:

No income verification
No appraisal in many cases
Reduced documentation
Limited underwriting
Processing timelines vary by transaction and participating lender

Because the program focuses on improving an existing VA loan rather than re-qualifying the borrower from scratch, many homeowners can refinance with substantially less paperwork and fewer qualification hurdles.

VA IRRRL loans are commonly used for:

Lowering interest rates
Reducing monthly mortgage payments
Transitioning into fixed-rate financing
Streamlining an existing VA mortgage
Simplifying the refinance process

Additional benefits may include:

Limited out-of-pocket costs
Timelines vary by lender, loan purpose, documentation, property, appraisal, and title requirements.
Reduced documentation requirements
No monthly mortgage insurance

The VA IRRRL program is specifically designed to help eligible veterans quickly and efficiently improve the terms of an existing VA loan.

VA Cash-Out Refinance

A VA Cash-Out Refinance allows eligible veterans and military homeowners to refinance their existing mortgage while accessing equity from their property in the form of cash. This program may be used whether the homeowner currently has a VA loan or a conventional mortgage.

VA Cash-Out refinancing provides borrowers with financial flexibility by allowing them to leverage home equity for a variety of purposes while still benefiting from competitive VA financing terms.

VA Cash-Out loans are commonly used for:

Debt consolidation
Home renovations or improvements
Paying off high-interest credit cards
Major expenses or investments
Accessing liquidity
Refinancing into a fixed-rate mortgage

Key advantages may include:

Competitive interest rates
Flexible qualification standards
Access to substantial home equity
Consolidation of multiple debts into one mortgage payment
Potentially lower monthly obligations compared to unsecured debt

VA cash-out underwriting considerations:

Credit, income, residual income, entitlement and property requirements apply
Cash-out availability depends on the transaction and participating-lender review

VA Cash-Out refinancing remains one of the most flexible equity-access programs available to eligible veterans and military homeowners.

VA Loan Disclaimer

The information provided above is for general educational and informational purposes only and should not be interpreted as a commitment to lend, preapproval, underwriting approval, or financial advice. VA loan eligibility, entitlement, interest rates, debt-to-income ratios, residual income requirements, and financing terms vary based on borrower qualifications, service history, credit profile, occupancy, property type, and applicable underwriting guidelines.

VA home loans are guaranteed by the U.S. Department of Veterans Affairs and are available only to eligible veterans, active-duty service members, members of the National Guard and Reserves, and qualifying surviving spouses. A valid Certificate of Eligibility (COE) is required. Occupancy requirements apply; VA loans are generally limited to a primary residence.

A one-time VA Funding Fee may apply and may be financed into the loan. The amount varies by loan type, down payment and prior VA loan use. The funding fee may be waived for certain borrowers whose VA records establish an exemption, including qualifying recipients of service-connected disability compensation. VA determines exemption status.

WestFi is not affiliated with, acting on behalf of, or endorsed by the U.S. Department of Veterans Affairs (VA) or any other government agency. The term “VA” and any related marks are used for identification purposes only.

All mortgage loans are subject to credit approval, property approval, verification of income and assets, and investor or lender underwriting requirements. Interest rates, APRs, loan terms, and program availability are subject to change without notice and may not be available at the time of loan commitment or lock-in.

WestFi is an Equal Housing Opportunity mortgage company. We fully comply with the Equal Credit Opportunity Act (ECOA), Fair Housing Act, and all applicable federal and state lending regulations. NMLS #2890320. For licensing information and consumer access, please visit NMLS Consumer Access.