VA Cash-out Refinance Calculator

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

Property Tax rate: 0 Homeowner's Insurance rate: 0

VA Payment Breakdown

Principal & Interest
Monthly Escrow
VA Mortgage Payment VA


Related: Do I qualify for VA loan?

VA Loan Breakdown

Potential Cash-out
VA Base Loan Amount
VA Funding Fee
VA Total Loan Amount

Continue to request a VA refinance quote.

VA IRRRL Payment Calculator

Next: What Buyers Need to Know About VA Home Appraisals

What is a VA Cashout Refinance

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 Cashout 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 cashout 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.

Equal Housing Lender

*All calculations on are for demonstration purposes only.
Every effort is made to maintain accurate calculations for each program listed. Actual numbers may vary.

What's My Payment, LLC & are not affiliated with any government agency, nor do we originate mortgage loans.
Most popular calculators: FHA VA USDA VA Refinance
Apply Now NMLS #10287