The maximum loan amount is 100 percent of the appraised value, plus the cost of any energy efficiency improvements, plus the VA funding fee. This is limited to 75% OVER the county limit in your area, so be sure to ask our specialists YOUR maximum loan amount.
A VA cash-out refinance loan is a VA-guaranteed loan that allows refinances of any type of lien against the secured property, along with any other consumer debt.
The VA Cash Out loan is ONLY for Owner Occupied Properties. The veteran must have sufficient available entitlement for the loan. If an existing VA loan on the same property will be paid off by the refinancing loan, the entitlement used for that existing loan can be restored for purposes of obtaining the new loan.
Also, if you are looking to BUY another home, you may be able to use your VA again, even though you already have a VA loan. Call today to find out more information from one of our specialists!