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Why choose a VA cash-out refinance?
A VA cash-out refinance allows borrowers to access up to 100% of their home’s appraised value, a refinance option that could help you consolidate liens or high-interest debt. It can also fund home improvements.
VA cash-out refinance guidelines
To qualify for a VA cash-out refinance, you will need:
- No minimum credit score
- Home appraisal
- Qualifying military service
A military Certificate of Eligibility (COE) is required to verify your service history, something Rate can help you retrieve. A VA cash-out refinance allows you most or all of your home’s value, but a home appraisal is required to determine your home’s market value. The home also must be your primary residence.
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How to apply for an VA cash-out refinance
Applying for a VA cash-out refinance is simple with Rate’s Digital Mortgage. Follow these steps.
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“As first time homebuyers, we had an enormous amount of questions and just overall uncertainty about the entire process. Even though we purchased during the busy holiday season, there was never a time we felt disregarded. From initial approval of our VA loan, to underwriting and closing, the entire process was peaceful.”
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Rate. Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the Nevada Department of Veterans Services, the US Department of Agriculture, or any other government agency. No compensation can be received for advising or assisting another person with a matter relating to veterans’ benefits except as authorized under Title 38 of the United States Code.
Using funds from a Cash-out Refinance to consolidate debt may result in the debt taking longer to pay off as it will be combined with borrower’s mortgage principle amount and will be paid off over the full loan term. VA Cash-out Refinance not available in Texas. Rate has no affiliation with the US Department of Veterans Affairs. Contact Rate for more information.