VA eligibility

[Anonymous]

I currently have an FHA loan, but with the recent 2008 VA changes, I think the VA loan would be better (no FHA insurance). Do I qualify to refinance with a VA loan? I can't seem to find anyone (including my bank) that can answer the question. Everything online says "conventional" to "VA" or "ARM to VA."

Since mine is FHA, does that mean I don't qualify?

[Anonymous]

this link should help:

http://www.homeloans.va.gov/eligibility.htm

[ShanetheMortgageMan]

You can refinance from FHA to VA, however it'll be under VA's normal refinance program, not the "IRRRL" (Interest Rate Reduction Refinancing Loan) streamline loan program.  Normal VA qualifications will apply, and can go to 100% of your home's value to include closing costs if you wish.  More info on your situation (amount owed, value, credit score, income, monthly debt payments, to name a few) would be needed to determine if you would qualify though.