Home Equity Loan

VA Loan Tip: Be current on your mortgage before you refinance

When it comes to your mortgage, there’s a difference between a late payment and one that’s past due. While late payments won’t affect your ability to refinance, past due payments made more than 30 days after the due date can, depending on a lender’s policies and the type of refinance you want.

However, regardless of all these variables, one thing is true for both streamline and cash-out refinances: you MUST be current on your existing loan before you can refinance.

The difference between the two lies in the number of past dues allowed. At Low VA Rates, we follow the VA’s guidelines, which means you can have an unlimited number of past due payments if you want to streamline, as long as you’re current at the time of refinance. With a cash-out, having lots of past due payments can be trickier, but it’s still possible. Watch to get all the details.


Here at Low VA Rates, our name is our promise, and we back it up with cold, hard cash. Right now, get $250 if we can’t beat another lender’s rate.

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This video is not intended for residents or homeowners in the states of WA, NY or MA.

Low VA Rates NMLS# 1109426


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