The Quick Read: Often, but only when both clocks have run and the rest of the file holds up. If you are paying off a VA loan, the new loan cannot be guaranteed until the later of 210 days from your first monthly payment or the date your sixth payment is made. Passing that test opens the door. You still need a certificate of eligibility, an appraisal, full underwriting, and a net tangible benefit.
What Do “Six Payments” and “210 Days” Actually Mean?
Seasoning is the waiting period a lender needs between your old loan’s start and your new loan’s closing. For a VA cash-out refinance, it is two tests, and you must pass both.
VA cash-out estimate
Seeded with an example value, a typical balance, and a round cash request at the first-use fee; change any field.
Editable benchmark: 7.24% as of October 29, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a VA cash-out refinance quote.
Illustrative starting assumptions: a $350,000 home value, a $193,000 current balance, the full-value VA cap with the first-use funding fee financed, a thirty-year term at the current Freddie Mac benchmark, and property taxes and insurance estimated at typical national rates. Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not a VA cash-out refinance quote; a VA loan is priced by the lender at lock. The total loan, funding fee included, is capped at the program leverage on the reasonable value; the fee follows the tier chosen. The cash available is what the cap allows less the balances paid off and the fee, before closing costs, which are not included. The HELOC line is the line program’s combined loan-to-value ceiling applied to the same value and balance. Taxes and insurance are editable estimates. The debt-to-income figure is a guideline; residual income decides a VA file. Licensed in sixteen states for consumer mortgages.
The first test counts days. The second counts monthly payments. The later of the two dates controls. Six payments do not shorten the 210 days, and 210 days do not count if fewer than six payments are on record.
Here is the rule as written. 38 CFR § 36.4306 says the new loan can’t be guaranteed until the later of 210 days after the first monthly payment, or the date the sixth monthly payment is made. It also says this applies only when the loan being refinanced is itself VA-guaranteed or insured.
One wrinkle on the starting point. The regulation says “first monthly payment made.” VA’s own circulars count from the due date of the first monthly payment. On an on-time loan those usually line up, so the first payment due date is the practical anchor. Have your loan officer confirm the exact date for your file.
Seasoning does not start from the date title was recorded. It does not start at your note date. It starts with that first payment.
Which Clock Usually Controls?
For an on-time borrower, the 210 days almost always controls. Six monthly payments cover roughly six months. Seven months is about 210 days. So the day count is the longer wait.
Picture a borrower whose first payment was due on the first of a month. Six payments land by the sixth of that run of months. The 210th day arrives roughly a month later. The earliest closing sits at the day count, not the payment count.
The payment count can bind in unusual cases. Say a loan’s first payment comes due unusually late after closing, or a payment gets skipped or deferred. Then the sixth payment may land after day 210. The later date wins.
For a new VA purchase, plan on roughly seven months after the first payment due date before a cash-out can close. Early payments do not speed that up. Paying extra or paying ahead does not move the 210th day.
How Do You Count the 210 Days?
Count from the first payment due date, not the closing date. VA’s counting convention, written in the Federal Register rule on IRRRLs, leaves out the first payment due date itself and counts the new note date. That text is written for streamline refinances, so treat it as the convention VA uses, and let your lender confirm how it applies to a cash-out.
A simple way to work it out:
1. Find the first payment due date on your current VA loan. 2. Add 210 days, starting the count the day after that due date. 3. Confirm you have made six consecutive monthly payments by the date you want to close. 4. Take whichever date is later. That is your earliest eligible closing.
Then keep a little cushion. Closing a few days early can leave the new loan unable to be guaranteed. Being a few days short is not fatal to your plan, only to that closing date. Move the closing out and the problem goes away.
Does the Rule Apply to Your Current Loan?
It depends on what you are paying off. The table sums it up.
| Loan being paid off | Does 210-day / six-payment apply? |
|---|---|
| VA purchase loan | Yes |
| Prior VA cash-out | Yes |
| Prior VA streamline (IRRRL) | Yes |
| Conventional, FHA, or USDA loan | Not under VA’s rule |
The regulation applies the test only when the loan being refinanced is VA-guaranteed or insured. Pay off a conventional, FHA, or USDA loan and VA’s federal clock does not apply. Lenders or investors may still set their own timing, and that is where overlays come in. Ask early.
Also know this: refinancing a non-VA loan into a VA loan counts as a cash-out, even if you take no cash. VA’s cash-out loan page says so directly. So a homeowner with a conventional loan can move into VA’s no-mortgage-insurance structure through this door.
Does Passing Seasoning Mean You Are Approved?
No. Seasoning is a gate, not an approval. Think of it as the first of several.
Across the wholesale programs Lendmire places VA loans through, a seasoned file still has to clear these steps, subject to lender guidelines and full file review:
- Eligibility. VA says you must qualify for a certificate of eligibility (COE) and live in the home you are refinancing. VA also says you get the loan from a private bank, mortgage company, or credit union, not from VA itself.
- Credit. VA sets no minimum score, but the wholesale programs we use start at a 580 decision score. Some lenders set a higher floor.
- Full underwriting. The VA Lenders Handbook, Chapter 6 calls for full credit underwriting on cash-out loans. Expect to document credit, income, employment, and assets.
- Appraisal. The same chapter requires one. The appraised value sets the ceiling on the loan.
- Net tangible benefit. The refinance must give you a real, listed benefit. More on that below.
This is where most surprises happen. Borrowers focus on the calendar and forget the file. A clean payment history does not replace income, credit, or value.
How Much Cash Can a VA Cash-Out Reach?
The VA cash-out can reach 100% of the appraised value, including the financed funding fee. Many lenders cap lower as their own policy, so the limit you see depends on the program. The appraisal drives everything. A low appraisal means less cash, and sometimes none.
With full entitlement there is no VA loan limit. If you have used part of your entitlement, speak with a loan officer about whether a down payment may apply.
The funding fee is financeable and sits inside that ceiling. For a cash-out refinance, it runs 2.15% for first use and 3.3% for later use. Veterans receiving compensation for a service-connected disability, and other exempt groups, are waived. Here is a quick view:
| Use | Cash-out funding fee |
|---|---|
| First use | 2.15% |
| Subsequent use | 3.3% |
| Exempt veterans | Waived |
Residual income is the controlling underwriting test. That is the money left each month after major obligations and living costs. The 41% debt-to-income figure is a guideline, not a cap. A higher ratio needs residual income well above the minimum.
What Is the Net Tangible Benefit Test?
Every VA cash-out must show a net tangible benefit, which is one of VA’s eight listed benefits. It is the reason VA lets you refinance in the first place.
Here is the part people get wrong. The half-percent rate-reduction test and the fee-recoupment test are streamline (IRRRL) rules. They do not apply to the VA cash-out in the wholesale programs we place.
The federal rule does carry a recoupment idea for one kind of cash-out. A Type I cash-out is one where the new loan does not exceed the payoff. A Type II is one where it does, which means you receive cash. 38 CFR § 36.4306 ties the 36-month recoupment test to lower regular monthly payments on the Type I side. VA’s Circular 26-20-16 splits the two, with Type I following a statute and Type II following the regulation. Your lender will tell you which type you have and what that means for your file. Do not assume.
What If Your Payment History Is Not Clean?
Late, skipped, or deferred payments change the math in two separate ways. One is the VA seasoning count. The other is the lender’s own credit review. Do not mix them up.
A few edge cases worth knowing:
- Delinquency. Under the IRRRL rule, the 210-day count applies whether or not the loan being refinanced became delinquent. A late payment does not stop the clock by itself.
- Forbearance. VA Circular 26-20-25 says CARES Act forbearance periods can’t count toward seasoning for streamlines or VA-to-VA cash-outs.
- Modified or assumed loans. Under the IRRRL rule, payments before a modification don’t count toward the six payments. The 210 days run from the first payment due date of the modified loan. VA applies similar logic to IRRRLs, so have your lender confirm how it works for a cash-out.
- Construction-to-permanent loans. VA’s Circular 26-19-05 says the cash-out rule covers refinancing of construction loans. Ask your lender about timing on yours.
Proof of payment matters too. Lenders commonly verify your history with a verification of mortgage or bank records. Gather statements before you apply. A missing record can hold up a file that otherwise passes.
Federal Rule or Lender Overlay?
Both exist, and they are different things. The 210-day and six-payment test is federal for VA-to-VA cash-outs. VA Circular 26-19-05 states that seasoning applies to all cash-out refinances of a VA-guaranteed loan.
You may read elsewhere that VA has no waiting period for cash-outs. That is wrong for VA-to-VA. It conflicts with the regulation and the circular.
Overlays are what lenders add on top. They can include a higher credit floor, a lower maximum loan-to-value, extra payment-history requirements, or their own timing on non-VA payoffs. Overlays vary by lender, which is one reason the same file can look different from one lender to the next. That is a strength of working through a broker with several wholesale lenders, because Lendmire can compare programs rather than relying on one set of overlays.
Common Mistakes to Avoid
- Counting from closing. The clock starts at the first payment, not your closing date.
- Thinking early payments shorten the wait. They do not. The 210 days must pass.
- Treating seasoning as approval. It is one gate of several.
- Assuming VA allows 100% everywhere. VA’s ceiling is the appraised value, but your lender may cap lower.
- Ignoring occupancy. You must live in the home. Second homes and rentals are outside this program.
- Skipping your own date check. Write down your first payment due date and ask your loan officer to confirm it.
Pre-Application Checklist
Gather these before you talk to a loan officer:
1. Your current loan’s first payment due date and a full payment history.
2. Your certificate of eligibility, or the information needed to request one.
3. Recent pay stubs, tax documents, and bank statements.
4. Your current mortgage statement and homeowners insurance details.
5. A rough idea of how much cash you want and what it is for.
For program details, Lendmire’s VA cash-out refinance program page lays out how the loan is structured.
Frequently Asked Questions
Do extra payments shorten the 210 days?
No. The later of the day count and the sixth payment still controls. For an on-time borrower, the day count is almost always the longer wait.
Does the clock start at closing or at my first payment?
It starts with the first monthly payment on the loan being refinanced. Federal regulation says “first monthly payment made,” and VA’s circulars count from the first payment due date. Your closing date does not start anything. Ask your loan officer to confirm the exact date.
I have a conventional loan. Do I need to wait 210 days to refinance into VA?
Not under VA’s rule, which applies only when the loan being paid off is VA-guaranteed or insured. Your lender or its investor may still have its own timing requirements. Refinancing a non-VA loan into VA counts as a cash-out even if you take no cash.
What if I am a few days short?
Move the closing date out until both tests are met. Closing before the seasoning date risks the new loan not being guaranteed. A short delay costs far less than a loan that cannot be guaranteed.
Does a late payment reset the count?
A late payment does not by itself stop the 210-day clock. Lenders review payment history under their own credit rules, though, and forbearance periods may not count toward seasoning. Share your full history with your loan officer early.
If you are weighing a cash-out refinance against keeping the loan you have, Lendmire can help you compare the programs and the equity each one reaches. Program figures are subject to lender guidelines and full file review, and nothing here is a commitment to lend.
For your own numbers, request a scenario review with Lendmire.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage brokerage serving homeowners and home buyers in 16 states. FHA, VA, conventional and jumbo purchase and refinance loans are arranged through wholesale lending channels; Lendmire brokers the financing and the lender underwrites each application. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
Get Started
Ready to find the right loan for you?
See your offer in seconds. No credit pull, no obligation.
Informational only. Not a Loan Estimate, approval, or commitment to lend. Program availability and eligibility are subject to lender guidelines, credit approval, property review, and underwriting.
References
2. Federal Register: IRRRL revisions
3. VA.gov: Cash-out refinance loan
4. VA Lenders Handbook, Chapter 6
This article is part of Lendmire’s VA cash-out refinance program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: VA Cash-Out Refinance Requirements for a Roof · Can You Get Approved for a VA Cash-Out Refinance After Repairs Following a VA Appraisal? · Can You Get Approved for a VA Cash-Out Refinance as a Surviving Spouse of a Veteran?
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
- Mortgage Loan Originator · NMLS# 1129696 · Verify on NMLS Consumer Access
- North Carolina Real Estate Broker · License# 343312 · Verify on NCREC
- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
Compliance and disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage broker and is not a direct lender, depository institution, financial advisor, or tax professional. Content in this article is general market analysis and educational information — not financial, legal, or tax advice for any specific situation. Lendmire does not guarantee loan approval; every transaction is subject to underwriting by the funding lender. Mortgage pricing and loan program guidelines are subject to change at any time without notice and vary by borrower characteristics, property type, and state regulations. Lendmire complies with Equal Housing Opportunity. Licensure verification: NMLS Consumer Access.