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VA Cash-out Refinance & Streamline Refinance
The Veterans Administration has two VA home loan refinance programs available for veterans. The VA streamline refinance and the VA cash-out refinance.
Using Your VA Loan Benefits
- VA Home Loan
- VA Home Loan Refinance
- Certificate of Eligibility
- VA Loan Facts
- Home Equity Loans
- DD214
Other VA home loan programs
For veterans who want to buy a new home. VA loans require No down-payment.
For veterans who want to refinance their homes. Percentage rates are the lowest in decades.
VA Cash-out Refinance
Click here for a VA Cash-Out Refinance Quote.
The cash-out refinance is a VA home loan refinance program for veterans who want to cash-out on the equity they have built up in their home. The cash-out proceeds can be used for any purpose.
A VA home loan refinance under the cash-out program differs from the VA streamline refinance in that an appraisal is required and you must qualify for the loan. Unless you are exempt, VA charges a 3% funding fee for this program. The fee can be rolled into the loan amount.
VA Streamline Refinance
Click here for a VA Streamline Refinance Quote.
The streamline refinance also called the interest rate reduction loan is a VA home loan refinance program for veterans who currently already have a VA loan and simply want to refinance in order to lower their interest rate and monthly payment.
Also cash-out or consolidation of junior liens is not allowed. If you need cash-out or want to combine a 1st and 2nd mortgage then you will need to apply for a cash-out refinance.
VA Home Loan Refinance Program Comparison
| VA Streamline Refinance | VA Cash-out Refinance | |
|---|---|---|
| Cash-out Allowed | No | Yes |
| Can Combine 1st and 2nd Mortgage | No | Yes |
| Maximum Loan to Value (LTV) | No Maximum | 90% |
| Maximum Loan Amount | $417,000 | $417,000 |
| VA Funding Fee | .5% (unless exempt) | 3% (unless exempt) |
| Mortgage Lates Allowed In Last 12 Months | 1 (30 days) | 0 |
| Property Must Be Owner Occupied | No | Yes |
