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Are you searching for answers about VA cash out refinance loans? At VAMortgage.com, we take the time to understand your financial needs and objectives when you’re buying a home or using the equity in the home you already have.
That’s why we’re committed to helping you find out if a VA cash out refinance loan, which you can combine with an Energy Efficient Mortgage, or EEM, is right for you.
Keep reading to learn more about how to refinance your home with cash out options. If you’d like to speak to somebody right away, you can give us a call at 888-775-1585 or click here to contact us online.
About VA Cash Out Refinance Loans
VAMortgage.com will refinance up to 100% of your home’s appraised value with a VA home refinance loan so you can get more cash out than with other loan programs.
When compared to an FHA or conventional loan, a VA mortgage is the only loan program that will provide you with such a high LTV, or “Loan to Value” ratio, which is a ratio of the outstanding debt on a property to the market value of that property.
A VA cash out refinance loan requires full documentation. That is, you will need all of the documents that you would need for a standard new home purchase loan, except the contract on a new house because the refinance is for the house you are living in.
This type of loan also requires a VA Funding Fee which is usually around 2-3 percent and is charged by the government to defray costs of the VA home loan program. In some cases, the VA Funding Fee may be waived for those on disability. You can view a breakdown of Funding Fees on the Department of Veterans Affairs website.
If you have any questions about a VA cash out refinance loan or anything else you would like help with, please give us a call at 888-775-1585.
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