VA Cash Out Refinance Loan to 95% Property Value

A very flexible option about getting a VA refinance loan is that you can go up to 95% of the value of your property with a cash out refinance.  You do not have to have a VA loan currently to go up to 95% of your property value.   A VA cash out refinance is different than the VA streamline IRRRL loan where you already have to have a VA loan in place.  Below are some details about getting a VA cash out loan in California:

  • You can refinance up to 95% of your property value
  • The loan requires full qualification based on income and credit
  • Your VA loan credit score does not have to be perfect
  • You can get a VA cash out refinance only two years after short sale, bankruptcy or foreclosure
  • A VA cash out refinance will require a full property appraisal
  • VA loan interest rates are back around their lowest levels ever in U.S. history
  • Veterans who receive any disability pay get the VA funding fee waived

Some reasons to consider a cash out VA refinance:

  • If you currently have a higher interest non VA mortgage such as FHA or conventional and you want to lower your interest rate
  • You would like to pay off high interest consumer debt such as auto loans or credit cards
  • You would like to get cash to remodel your home

I hope this article helps you understand some options with the VA cash out refinance in California.  Don’t hesitate to call 858-922-7899 or email if you have any additional questions.


Rob Chomentowski

Sr. Loan Officer (and VA specialist)

Affinity Financial


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