VA Cash-out Refinance Calculator

If your current mortgage is already a VA loan and you don't want any cash back, you should look at a VA IRRRL. Use our regular VA loan calculator if you're buying a home.


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VA Cash-out Breakdown

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What is a VA Cash-out Refinance

Eligible veterans and active duty military can access 100% of their VA appraised home value with a VA cash-out refinance.

Additional VA Payment Calculators

What's My Payment? has VA payment calculators built specifically for the various VA loan programs available to veterans and active service members.

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With property values rising nationwide, many people are taking advantage of their positive equity to pay off debt, improve their home, and/or many other worthwhile reasons.

  • 100% loan to value (LTV) permitted*
    *VA appraisal required
  • Cash back can be used for almost any reason, including:
    • Home improvements
    • Debt consolidation
    • Education expenses
    • Savings
    • Buy a car, boat, RV, etc...
    • Weddings
    • Graduations
    • Many, many more
  • It's a new VA loan, so you must qualify.
  • A VA approved lender will complete your request. The VA does not make loans.
  • VA funding fee is added to your loan balance (if applicable).
  • Veterans receiving service related disability are usually eligible for funding fee waiver.

VA Cash-out Refinance Process

Understanding the VA refinance process will assure your experience goes smoothly.

An approved VA lender will complete your request. Here's what to expect.

  • To begin you must contact a VA lender.
  • Your VA lender will complete a preapproval by taking a complete VA loan application, verifying your employment/income, and assuring your credit and debt ratios are acceptable to VA guidelines.
  • Once preapproved, your VA lender will order an appraisal through the VA to establish a home value upon which your cash-out refinance will be determined.
  • The VA appraiser will contact you to arrange a time to appraise the home.
  • When the completed appraisal is delivered by the appraiser to your lender, your lender will determine the amount of cash available to you.
  • Once the terms are spelled out and agreed upon based on your home's value, your lender will arrange the signing of the loan documents to close your loan.
  • After a three day rescission period, your loan proceeds will be delivered to you via ACH or wire transfer.

VA loans are available to eligible veterans, reservists, and active duty military personnel. If your current mortgage is a VA loan or you've had a VA loan in the past, that's okay. Your VA eligibility is typically restored upon paying off your previous VA loan, and VA eligibility is simultaneously restored when paying off an existing VA loan.

If you are an eligible veteran, active duty, or would like to find out if you are eligible, you can request more information here.