IRRRL, VA cash-out or leaving VA: choosing your refinance path
Refinancing with a second mortgage
At the fork
If you have a second mortgage or home equity line, an IRRRL usually requires the second lender to agree to stay behind the new loan. A cash-out refinance can pay off the second instead. Ask the second lender about subordination early.
Last reviewed against the primary sources listed below.
Ask the second lender
- Will you subordinate?
- How long does it take?
Choosing a path
Can I do an IRRRL with a second mortgage?
Usually, if the second lender subordinates.
Can a VA cash-out pay off my HELOC?
Yes.