By Monica Singhania
The VA loans are guaranteed by the government and are for the benefit of all Veterans. Naturally the VA has created the rules to safeguard the interest of the Veterans. One such rule is the 210 rule to protect veterans from over financing the loans , that could potentially be detrimental to the overall financial health of the veteran borrowers.
Veterans refinance loans are subject to the 210-day rule, which must be met before closing a new loan.
1. At least 210 days must have passed since the date of the first payment on the loan being refinanced
AND
2. The borrower must have made at least six consecutive, on-time monthly payments on that loan
Let’s look at some examples to see how this rule works in practice.
Example 1: A veteran refinanced on October 1 and made six payments
– Loan closed: October 1, 2024
– First payment made: November 1, 2024
– Six consecutive payments were made from November 1 through April 1
Counting 210 days from the first payment due date brings us to May 30, 2025. Since both requirements are met, the borrower can close the next refinance on or after May 30, 2025.
Example 2: The veteran refinanced on October 1, with the first payment due December 1
– Loan closed: October 1, 2024
– First payment due: December 1, 2024
– Six consecutive payments made from December 1 through May 1, 2025
In this case, the 210-day requirement is satisfied on June 29, 2025, so the refinance cannot close before that date.
Example 3: The veteran refinanced on October 1, first payment due December 1, but missed the February 2025 payment
– Loan closed: October 1, 2024
– First payment due: December 1, 2024
– Made payments in December and January, but missed February 2025
This does not meet the six-consecutive-payment requirement for a VA refinance. The veteran will not be eligible until six consecutive payments have been made after the missed payment. It’s a good idea to consult a mortgage expert to confirm any additional requirements.
What can you do to avoid any issues ?
- We recommend that you set up automatic payments to avoid any delays and to avoid missing a monthly payment
- Track your first payment date to calculate when the 210 days are complete
- Consult a mortgage professional if you have questions about missed payments or loan adjustments
FAQs About the 210-Day Rule
Q: What happens if I miss a payment?
A: You must start a new six-consecutive-payment count before refinancing.
Q: Can I make extra payments to speed up eligibility?
A: Extra payments don’t shorten the 210-day requirement, but staying on time does ensure eligibility.
Q: Do all lenders follow this rule?
A: Yes, all VA lenders follow the 210-day rule, though some lenders may add internal waiting periods for cash-out refinances.
Interested in a VA IRRRL or VA Cash out Refinance Reach out to us—we’re happy to help!