For direct online access to VA benefits and resources, create an account here.
If you’re a military veteran homeowner, and you’d like to get better terms on your mortgage, turn your non-VA home loan into a VA-backed home loan, get cash to pay off debt or make home improvements or pay off school tuition, then the VA-backed cash-out refinance loan option may be the perfect next move.
In order to start the process, you’ll need a Certificate of Eligibility (COE), meet the standards set by the VA and your lender regarding credit, income as well as other requirements, and live in the home you’re refinancing.
You’ll then need to find a lender, show them the COE, and then follow their steps regarding finalizing the loan (submitting financials like pay stubs, W-2s, tax returns, etc.). Keep in mind that they’ll include closing costs, which can total into the thousands of dollars.
To reference current effective loan limits, click here.
To get the Consumer Financial Protection Bureau’s home loan toolkit, click here.