How to Convert an FHA to a VA Loan

By Ray Cole

The Federal Housing Authority (FHA) and the U.S. Department of Veterans Affairs (VA) have helped consumers buy and refinance their homes. Both programs are run by the U.S. Government to provide affordable home loans. FHA loans were created to provide financing terms that are easier for consumers to qualify for than traditional bank loan requirements. Loans issued by the Veterans Administration are solely for people that have served in the U.S. military. Refinancing will help you convert your FHA loan to a VA loan.

Contact a VA lender to discuss your desire to refinance your FHA loan to a VA loan.

Apply for a VA loan. You will need to complete an application package for a VA loan. Your VA lender will provide you with an application and a list of required items.

Submit your requested documents promptly, as this will help avoid delays. Lenders will generally follow up quicker with motivated borrowers.

Attend settlement for your new VA loan. Your mortgage lender will coordinate a date and time to attend closing for your VA loan.

Only veterans will be able to obtain VA financing.

Do not order an appraisal. Your lender or the VA will assign an appraiser to complete the inspection.

Do not change jobs or apply for new types of credit until your VA loan is completed.

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