Special VA Loan Help!In 2008 we bought our first home. The loan was financed with 80% at 6.25% and the other 20% interest free. It was a great deal as we didn't have to put anything down and we do not pay PMI. Now we would like to refinance or sell. We would like to refinance the 80% loan to a 10 or 15 year loan so we can pay it off faster. I contacted a bank and they said they would refinance as long as the mortgage holder would subordinate? (I hope this makes sense to someone). But the mortgage holder said that they wouldn't and made it sound like refinancing at all was impossible. Since we can't (still holding out that there might be a way) refinance, we were thinking of selling (probably break even) and try to get another VA loan for a new home, but the first VA loan must be completely paid off in order to get a new one (right?). So would we have to sell, maybe move into an apartment for a few months until our VA loan shows completely paid off before looking for a new home? Please help, this whole process is so complicated!July 08 2012 - Springfield00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.