Cash-Outs, Part 1: How do VA cash-out refinance loans work?

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Video Description:

Cash-out loans are becoming more popular than ever. That's because they allow you to access your home's equity, which can be used in a variety of ways, including paying off high interest debt, making home improvements, and anything else you can dream up!

VA cash-out refinance loans, in particular, are an incredible opportunity that is only available to veterans and servicemembers with eligible military service. That's because they're the only cash-out loan that we know of that lets you take out up to 100% of your loan value—FHA and conventional cash-outs limit you to 80% of the value.

However, in addition to your military service, you will need to meet specific qualification guidelines. In addition to the normal financial requirements, the home will need to be your primary residence and the loan will need to be properly seasoned, pass the net tangible benefits (NTB) test, and, in some instances, recoup your closing costs within a specific time frame. You can learn more about these last three requirements by checking out the videos we've linked to below.

--Seasoning:    • VA Refinance Loan Requirements: Loan seaso...  
--NTB Test:    • VA Refinance Loan Requirements: The net ta...  
--Recoup:    • VA Refinance Loan Requirements: The recoup...  

BONUS:    • Do VA cash-outs have the same seasoning, r...  

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DISCLAIMER: Eric is not a licensed loan officer. All advice given is for informational purposes only. For more detailed information, please call in and ask to speak with a licensed mortgage loan originator. This video is not applicable to borrowers in the State of Washington.
This video is not intended for residents or homeowners in the states of NY or MA.