VA Cash-Out Refinance
Your Home EquityCan Be Part of the Plan.
A VA-backed cash-out refinance can allow an eligible borrower to replace an existing mortgage with a new VA-backed loan and potentially access home equity in the process. It can also be used to refinance certain non-VA mortgages into a VA-backed loan.
Your equity is valuable. Understand the entire transaction before using it.
Equity With a Plan
Built for Military Families by Veterans
VA Cash-Out
More Than JustTaking Cash Out.
Access Home Equity
Use available equity for eligible purposes based on the loan structure.
Consolidate Debt
Evaluate whether replacing higher-cost debt with mortgage debt fits your overall financial strategy.
Home Improvements
Access equity for repairs, renovations or improvements.
Refinance Into VA
Eligible borrowers may be able to refinance a non-VA mortgage into a VA-backed mortgage.
Important
Debt consolidation doesn't automatically save money. Moving unsecured debt into debt secured by your home has tradeoffs, and the right answer depends on your overall financial strategy.
Look at the Whole Loan
Cash Today Can Mean a Different Mortgage Tomorrow.
Before using home equity, understand what changes:
Current Mortgage Balance
New Mortgage Balance
Current Interest Rate
New Interest Rate
Monthly Payment
Closing Costs
Equity Remaining
Total Interest Over Time
The question isn't simply, "How much cash can I get?" It's, "Does the new mortgage make sense after I get it?"
Run My ScenarioVA Cash-Out Eligibility
What DoesVA Require?
VA says an eligible borrower generally must have a valid COE, meet applicable VA and lender credit and income standards, and occupy the home being refinanced. An appraisal is also part of the process.
VA Eligibility
A valid Certificate of Eligibility establishes that you meet the military-service requirements for the benefit.
Income & Credit
Applicable VA and lender credit and income standards still apply to the new loan.
Primary Residence
VA generally requires that you occupy the home being refinanced.
Property Value
An appraisal is part of the process and helps establish the value supporting the transaction.
Before You Close
Know What theRefinance Costs.
VA Funding Fee
Discount Points
Lender Fees
Third-Party Closing Costs
New Loan Amount
VA currently lists the standard cash-out refinance funding fee as 2.15% for first use and 3.3% after first use, with exemptions applying to qualifying borrowers.
Compare My OptionsVA Cash-Out FAQ
Cash-Out RefinanceQuestions.
Can I refinance a conventional loan into a VA loan?+
In many cases, yes. A VA-backed cash-out refinance can be used to refinance certain non-VA mortgages into a VA-backed loan, subject to applicable VA and lender requirements.
How much equity can I access?+
It depends on the transaction, the appraised value, your qualification, and applicable VA rules and lender overlays. Rather than publish one blanket percentage, we'll review your specific numbers and show you what's actually available.
Do I need a VA appraisal?+
Yes. An appraisal is part of the VA cash-out refinance process and helps establish the value supporting the new loan.
Can I use the money to pay off debt?+
Equity can be used for eligible purposes, including paying off other debt. Keep in mind that moving unsecured debt into debt secured by your home has tradeoffs and isn't automatically a savings—review the full picture before deciding.
Does a VA cash-out refinance require occupancy?+
Generally, yes. VA requires that the borrower occupy the home being refinanced. Occupancy requirements are situation-specific and should be reviewed based on your circumstances.
What is the VA funding fee for cash-out refinancing?+
VA currently lists the standard cash-out refinance funding fee as 2.15% for first use and 3.3% after first use, with exemptions applying to qualifying borrowers.
Use ItWith a Plan.
Before replacing your mortgage, let's look at what you're gaining, what you're giving up, and what the new loan actually costs.