VA Cash Out Loan
VA cash out loan or VA debt consolidation loan will allow the veteran to get cash out for home improvements, debt consolidation, or refinance options to lower your payments. VA debt consolidation loan or VA refinance loan is a VA guaranteed loan which refinances any type of lien or liens against the secured property. The liens to be paid off may be any type of mortgage loan including VA, FHA and conventional loans. VA refinance proceeds beyond the amount needed to pay off the liens or for debt consolidation may be taken as cash out by the veteran for any purpose acceptable to the lender.
VA cash out loan or VA debt consolidation refinance loan is limited to 90 percent with most lenders and a few lenders offering 100 percent of the reasonable value of the property. This is an increase that was effective on October 16, 2008. The VA refinance loan must be secured by a first lien on the property. The VA funding fee may be added to the loan amount along with up to $6,000 when using the VA energy efficient mortgage program also called the EEM.
VA finance specialist standing by 08:00 to 20:00 eastern at
800-436-5904
Maximum Loan Amount
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