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.
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.
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.
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.
View Program →Purchase Loan
No down payment with full entitlement, no mortgage insurance, and no VA loan limit — the benefit that makes the refinance possible later.
View Program →What makes VA cash-out work.
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.
Know before you borrow.
Guides, scenario breakdowns, and VA refinance strategy from our licensed loan officers.
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Tools to move from reading to action.
Mortgage calculator
Run the numbers on a refinance — including principal, interest, taxes, and insurance on the new loan.
Calculate Tool TwoGet a quote
Start a scenario review in under 30 seconds. A Lendmire loan officer follows up with the options in writing.
Start Tool ThreeCompare 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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In about 30 seconds you can review VA cash-out and the alternatives for your home. No commitment required.
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