Attention Veterans -
100% Financing is still available to Veterans, also they do offer 100% Cash Out. Here is a chart that summarizes the refinance options.
|
VA Streamline Refinance |
VA Cash-out Refinance |
|
| Cash-out Allowed |
No |
Yes |
| Must Credit Qualify |
No |
Yes |
| Must Income Qualify |
No |
Yes |
| Appraisal Required |
No |
Yes |
| Can Combine 1st and 2nd Mortgage |
No |
Yes |
| Maximum Loan to Value (LTV) |
No Maximum |
100% |
| Maximum Loan Amount |
$417,000 |
$417,000 |
| VA Funding Fee |
.5% (unless exempt) |
3% (unless exempt) |
| Mortgage Lates Allowed In Last 12 Months |
1(30 day) |
0 |
| Property Must Be Owner Occupied |
No |
Yes |
Contact a local VA lender if you have any questions.
Licensed Mortgage Professional with 20+ years of experience in residential mortgages. Specializing in first time homebuyers, refinances, low/no money down payment purchases and Reverse Mortgages
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