Program Description

The Department of Veterans Affairs (VA) Cash-Out Refinance Loan is for homeowners who want to trade equity for cash from their home. These loans can be used as strictly cash at closing, to payoff debt, make home improvements, and pay off liens. The Cash-Out Refinance Loan can also be used to refinance a non-VA loan into a VA loan. VA will guaranty loans up to 100 percent of the value of your home.

Program Requirements

Persons who may qualify for VA-guaranteed loans include

  • Veterans
  • Reserve and National Guard members (called to active duty)
  • Active duty Servicemembers
  • Current Reserve and Guard members (after six years of creditable service)
  • Certain surviving spouses


To be eligible, the Veteran/Servicemember must have been discharged under conditions other than dishonorable and meet length of service requirements.

As a requirement for a VA home loan, the Veteran, the Veterans' spouse, or dependent child must certify occupancy for the property.

Application Process

To apply, you will need a valid Certificate of Eligibility (COE). There are several ways to obtain your COE:

  • You may be able to obtain a COE online through eBenefits.
  • If you are unable to obtain your COE through eBenefits, check with your lender. In most cases, your lender will be able to obtain a COE for you using the Automated Certificate of Eligibility (ACE) program.

For more information on this program, please visit the Home Loans webpage.

Loan Terms

Market Interest Rate, VA funding fee, and no pre-payment penalties. Maximum loan term cannot exceed 30 years. No maximum loan amount.

Additional Information

Additional Information
Max Loan Length30 years
Interest RateMarket
Max Loan AmountNone
Payment FrequencyMonthly
Prepayment PenaltiesNone
FeesFunding Fee
Loan Categories
House loans
Housing Loans
Veterans medal
Veterans Loans