IRRRL, VA cash-out or leaving VA: choosing your refinance path
Path 2: VA cash-out
At the fork
VA's cash-out refinance does two jobs: taking cash from your equity, or refinancing a conventional, FHA or other non-VA loan into a VA-backed loan even with no cash. You need a COE, must live in the home and meet VA and lender credit and income standards, and the lender orders an appraisal. When a VA loan is refinanced, the seasoning and recoupment protections in federal law also apply.
Last reviewed against the primary sources listed below.
What lenders ask for
- Your Certificate of Eligibility.
- Recent pay stubs and W-2s.
- Tax returns, for many lenders.
- Access for the appraisal.
Choosing a path
Can I refinance an FHA loan into a VA loan?
Yes, through a VA cash-out refinance, if you are eligible and meet the lender's requirements.