VA Refinance Loan Requirements: Loan seasoning (3 of 3)

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In the third and final part of our series about VA loan refinance requirements, we talk about seasoning your loan. And no—we're not talking about salt and pepper or the contents of your spice drawer. In the mortgage world, seasoning refers to the amount of time you've been in a loan.

If your existing home loan is a VA loan, and you want to stay in a VA loan, then the VA's seasoning requirements apply, regardless of whether you want to do a cash-out or a streamline refinance. In order for your loan to be fully seasoned, you must have made 6 monthly payments AND 210 days must have passed since your first payment was due.

These seasoning requirements help balance your needs, as well as the needs of investors who buy mortgages. But it's more than that. Seasoning requirements also protect you financially. Lenders make money from doing loans, and the closing costs can keep adding up if you refinance too often.

So there are good reasons for the VA's seasoning requirements. Eric covers these more in-depth in the video, including an example and tips for how to determine if your loan meets these requirements.

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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 Archived video notice: This video is not current and may contain content that, while accurate when recorded, may not reflect current market conditions. As is customary on the YouTube platform, older videos remain in our account for transparency and statistical purposes, and we do not necessarily have control over which older archived videos YouTube’s algorithm may suggest for you. For that reason, please always check the date of a video to ensure that it is dated recently before relying on its contents. The mortgage market is very dynamic and laws, regulations, rates, and programs are always changing. If we have a more up-to-date video on the same subject, you should be able to sort our videos by date uploaded on our main channel landing page:    / lowvarates  . This video is not applicable to borrowers in the State of Washington.
This video is not intended for residents or homeowners in the states of NY or MA.