Veteran Refi Fork glossary
Key terms
At the fork
These terms come up when comparing VA refinance paths, each with a primary source. This is not a government website.
Last reviewed against the primary sources listed below.
- IRRRL
- A streamlined refinance of an existing VA loan. Source: VA: Interest rate reduction refinance loan
- Cash-out refinance
- A refinance that can take equity as cash. Source: VA: Cash-out refinance loan
- Seasoning
- The waiting period before a VA refinance. Source: VA Circular 26-18-30: Revisions to VA-guaranteed cash-out refinancing home loans
- Break-even point
- When savings equal the cost of refinancing. Source: CFPB: Closing on your new home