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FHA & VA Refinance Loans

Government mortgage loan options

Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) refinance loans allow homeowners the option to reduce payments or loan terms, and they have more flexible qualification requirements than conventional loans. (Please note: Bank of America offers FHA and VA refinance loans to existing Bank of America home loan clients only.)

FHA refinance loan features

  • No maximum income/earning limitations
  • Fixed-rate loans available
  • Maximum loan amounts vary by county (contact us for information on your county)
  • More flexible qualification guidelines than conventional loans

VA refinance loan features

  • Fixed-rate loans available
  • More flexible qualification guidelines than conventional loans

Other types of refinance loans

Fixed-rate refinance loan

  • Set interest rate for the life of the loan

  • Your monthly payments of principal and interest remain the same for the life of the loan

Adjustable-rate refinance loan

  • Interest rate may change periodically during the loan term

  • Your monthly payment may increase or decrease based on interest rate changes



Thinking about cash out?

Before deciding to take extra cash out of available home equity when refinancing, understand how much equity you may have in your home.

Learn more about cash-out refinance

Refinance basics

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Saturday 8 a.m. to 6:30 p.m. Eastern Time

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