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.)
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
Resources and tools
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.
Switching from an adjustable rate to a fixed rate is a common reason for refinancing.
Refinancing to a fixed rate
Switching from an adjustable rate to a fixed rate is a common reason for refinancing.
Refinancing to a fixed rate
Before you decide if refinancing is the right choice for you, take a look at some of the details.
Refinancing to lower your monthly payments
Before you decide if refinancing is the right choice for you, take a look at some of the details.
Refinancing to lower your monthly payments
Mon-Fri 8 a.m.-10 p.m. ET
Sat 8 a.m.-6:30 p.m. ET
Mon-Fri 8 a.m.-10 p.m. ET
Sat 8 a.m.-6:30 p.m. ET
Mon-Fri 8 a.m.-10 p.m. ET
Sat 8 a.m.-6:30 p.m. ET
