VA Cash-Out Refinance

With the VA Cash-Out refinance, you have the opportunity to turn the equity in your home into cash. This shouldn't be confused with a home equity loan, which is a second loan that runs alongside your current loan. The VA Cash-Out refinance loan replaces your existing mortgage instead of complementing it.

Qualified homeowners can refinance up to 100 percent of their home's value for mortgage debt in some cases. In others, homeowners can refinance a lower percentage and use the cash to cover debt payments and other needs.

Whether conventional, FHA or USDA loan, the VA Cash-Out refinance option is available regardless of loan type.

Quick Facts

• Please note, due to state regulations, Texas residents are not eligible for cash out refinances.

• For those refinancing from a conventional or other mortgage program, you are not required to take any cash out.

• VA Cash-Out Refinance loans follow the standard VA Loan underwriting and credit process.

• The closing costs and funding fee can be rolled into the entire loan amount.

• You must certify that you intend to occupy the property being refinanced.

Ways to Use Your Cash Back

A VA Cash-Out refinance provides access to cash from the equity you've built up in your home — and you're free to use the money for whatever you want:

• Major Home Repairs

• Emergency Expenses

• Upgrade Your Kitchen

• Remodel the Bathroom

• Tuition & Books

• Pay Off Debt

• And more...