YOUR AVAILABLE EQUITY
Appraised value, existing debt and loan limits shape your options.
VA Cash-Out Refinance
YOUR HOME HAS EQUITY.
PUT IT TO WORK.
Explore whether a VA cash-out refinance supports your goals—and understand the new loan that comes with it.
YOUR NEW MORTGAGE
A new rate, closing costs and funding fee may change the balance.
YOUR USE FOR THE FUNDS
Explore improvements or other goals while understanding the debt secured by your home.
A new mortgage, with new terms
A VA cash-out refinance replaces your current mortgage. Depending on your equity and eligibility, it may allow you to receive cash at closing. It may also be used to refinance a non-VA loan into a VA-backed loan.
Eligibility still matters
You will need a COE, sufficient income and credit, and a home you intend to occupy. Appraisal, available equity, underwriting and applicable loan-to-value limits affect how much you may borrow. Cash at closing is not guaranteed.
Know what it costs
A new interest rate, closing costs and a VA funding fee may apply. The standard cash-out funding fee is 2.15% for first use or 3.3% for subsequent use, unless exempt. Fees and financed costs can reduce your available cash and increase the amount you owe.
Be deliberate about debt
Using mortgage proceeds to pay other debts moves those balances into a loan secured by your home. Compare total costs and repayment periods, not just monthly payments. Your home is collateral for the new mortgage.
Your next move
PUT YOUR EQUITY
IN THE PLAN.
Understand the costs, the new mortgage balance and the cash-out options available to you.
Explore My Cash-Out Options Or talk with your VA loan team: (888) 855-1341