VA Cash-Out Refinance
Access equity up to 100% of value with a VA-backed refinance.
How it works
A VA cash-out refinance lets eligible veterans tap equity up to 100% of the home's value - the highest LTV of any cash-out program - with no monthly mortgage insurance. It can even convert a non-VA loan into a VA loan. A full appraisal, income documentation, and the VA funding fee apply unless you're exempt.
Key things to know
- Weigh the new rate and term against your current loan — a refinance resets the clock.
- Budget 2-5% of the balance in closing costs (or roll them in for a higher rate).
- Find your break-even: costs divided by monthly savings.
- Cash-out is capped at 80% LTV conventional/FHA; VA cash-out can reach 100%.
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Frequently Asked Questions
- What is the va cash-out refinance?
- A VA cash-out refinance lets eligible veterans tap equity up to 100% of the home's value - the highest LTV of any cash-out program - with no monthly mortgage insurance. It can even convert a non-VA loan into a VA loan. A full appraisal, income documentation, and the VA funding fee apply unless you're exempt.
- What does it cost?
- Most refinances run 2-5% of the loan in closing costs. A no-closing-cost version trades those fees for a slightly higher rate.