The VA Streamline Refinance is a special refinance program available to homeowners with U.S. military experience.

Backed by the Department of Veterans Affairs (VA), the VA Streamline Refinance program waives the verifications required by a traditional refinance, and offers below-market rates to qualified applicants.

To qualify for the VA Streamline Refinance is simple: You must only show proof that the refinance will save you money. An appraisal is not required, your employment and income are not verified, and you’re not required to show a credit score.

You must also have a recent history of on-time payments.

Because of the program’s “streamlined” nature, many VA Streamline Refinance loans are approved in fewer than 30 days; and, applicants to the program get access to mortgage rates which are below those advertised online or in newspapers.

VA mortgage rates often beat rates available via other government-backed programs by as much as 100 basis points (1.00%).

Read more about the FHA Streamline Refinance and low-downpayment mortgages at Growella.