VA cash-out refinance — up to 100% of your home's value

VA cash-out refinance — up to 100% of your home's value
Loan Program

VA cash-out refinancing to the full value of your home.

Eligible veterans, service members, and surviving spouses can refinance any loan type into a VA loan of up to 100% of the appraised value, including the funding fee, and take the difference in cash — with no mortgage insurance and residual-income underwriting.

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The Fundamentals

The guaranty, applied to your equity.

A VA cash-out refinance replaces your current mortgage — VA, FHA, conventional, or anything else — with a new loan backed by the VA guaranty and pays you the difference at closing. Under VA’s rules the new loan may reach 100% of the appraised value including the financed funding fee, after seasoning of the later of 210 days from the first payment and six payments made, with a net tangible benefit to the veteran.

The funding fee is 2.15% on a first use and 3.3% after, financed into the loan or paid at closing, and waived entirely for veterans receiving compensation for a service-connected disability and the other exempt groups. There is no mortgage insurance, and the file is qualified on residual income as well as the 41% ratio guideline. VA sets no minimum credit score; the wholesale programs behind these loans start at 580.

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VA Refinance Paths

Two ways to refinance with the VA benefit.

VA offers a cash-out refinance for any loan type and a rate-reduction refinance for existing VA loans. Each has its own fee and documentation rules.

VA

Cash-Out Refinance

To 100% of value including the funding fee, on a principal residence, after seasoning and with a net tangible benefit. Refinance any loan type into VA; full underwriting with residual income.

VA

IRRRL (Rate-Reduction)

For an existing VA loan: a 0.5% funding fee, no VA appraisal in most cases, limited documentation, and a net tangible benefit. No cash out.

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VA

Purchase Loan

No down payment with full entitlement, no mortgage insurance, and no VA loan limit — the benefit that makes the refinance possible later.

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Leverage limits are VA program parameters, not offers. Eligibility, entitlement, the appraised value, seasoning, the net tangible benefit test, credit, residual income, and underwriting decide every file. Taking cash out increases the loan balance. Lendmire is not affiliated with the Department of Veterans Affairs.
Program Highlights

What makes VA cash-out work.

Up To 100% LTV
The new loan may reach the full appraised value, including the funding fee, for a veteran with entitlement — the highest leverage of any cash-out program.
No Mortgage Insurance
No monthly premium and no upfront premium at any leverage. The one-time funding fee is the program’s cost, and many disabled veterans do not pay it.
Any Loan Type In
FHA, conventional, or non-QM loans can be refinanced into a VA cash-out. The existing loan does not need to be a VA loan.
Residual Income Underwriting
The 41% ratio is a guideline; VA weighs the income left after the payment, debts, taxes, and upkeep against its regional table.
Why Lendmire

The benefit, read correctly.

A VA cash-out refinance has rules a conventional lender rarely sees: the seasoning test, the net tangible benefit test, the funding fee tiers and exemptions, the recoupment rule where it applies, and the residual-income table by region. Lendmire reads them before the appraisal is ordered and tells you what the certificate supports.

We place VA loans with multiple wholesale programs, compare the VA cash-out with a conventional cash-out and a home equity line on the same numbers, and put the terms in writing from a licensed loan officer. Equity lending is most of what we do.

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Also Consider

Programs worth comparing.

VA cash-out usually wins for an eligible veteran on a principal residence. These alternatives cover the cases it does not.

Strong Credit

Cash-Out Refinance

Conventional cash-out to 80% LTV under agency rules, or 89.99% on a wholesale lane with no mortgage insurance at 680+.

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Flexible Credit

FHA Cash-Out Refinance

To 80% LTV with a 580+ wholesale credit floor and FHA mortgage insurance on the new loan.

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Keep Your First Mortgage

Home Equity Line of Credit

Borrow against equity up to 90% combined loan-to-value while your existing mortgage stays in place.

View Program →
Learning Center

Know before you borrow.

Guides, scenario breakdowns, and VA refinance strategy from our licensed loan officers.

Take the Next Step

Tools to move from reading to action.

Tool One

Mortgage calculator

Run the numbers on a refinance — including principal, interest, taxes, and insurance on the new loan.

Calculate Tool Two

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Compare all three cash-out programs

Conventional, FHA, and VA cash-out side by side, with the leverage and insurance each one carries.

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Guide Library · 1,267 articles

VA cash-out refinance guides, by the question you are asking.

Every VA cash-out refinance article Lendmire has published, grouped by the kind of question it answers. Each set lists up to 100 guides by month, newest sets last.

Browse the archives: VA Loans·Cash-Out Refinance

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Available In 16 States

VA cash-out refinancing, state by state.

The VA cash-out rules are national, and the equity is local. Explore the program parameters, the markets, and the scenarios for your state.