VA Cash-Out Refinancing

J.G. Wentworth is a proud VA lender that has been helping veterans finance their homes for more than two decades. We offer a multitude of home mortgage refinancing options to veterans, including VA Cash-Out refinance loans. If you are a veteran exploring the possibility of refinancing your home, call one of our knowledgeable loan specialists or complete our online form to learn more. Thanks to our streamlined process, consumer-friendly application, and excellent customer service, getting started with your VA Cash-Out Refinance is fast and easy with a quote from J.G. Wentworth in as little as a few minutes. 

What Is a VA Cash-Out Loan?

VA Cash-Out loans function similarly to standard cash-out refinancing, but with the added benefits of being backed by the Department of Veterans Affairs.  When you refinance using a VA Cash-Out loan, you replace your existing mortgage loan with a larger one. By doing this, you effectively pay off the mortgage you had initially, and the new loan takes its place.

Using Your Home Equity

The primary reason that veterans choose to refinance using a VA Cash-Out loan is to remove equity from their home in exchange for a cash sum. Additionally, VA Cash-Out guidelines allow refinancing of up to 100% of your home’s value, while traditional Cash-Out refinances max out at 80%. Your home equity is the difference between the outstanding balance on your loan and the market value of your home. Increasing the equity in your home can be done by increasing the property value or paying down your mortgage loan. When you decide to utilize a VA Cash-Out Refinance, the difference between what you currently owe on your mortgage and the total loan amount of the newly acquired mortgage will be returned to you in the form of cash, which you may use however you wish. Here are just a few common reasons that homeowners may choose to take cash out:

  • Making Home Renovations or Repairs
  • Funding Education
  • Covering Debt Payments
  • Paying for Life Events (weddings, new baby, etc.)
  • Emergency Funds for the Unexpected 

Benefits of VA Cash-Out Refinancing

There are plenty of reasons to consider a VA Cash-Out Refinance. Not only can VA Cash-Out refinancing lower your interest rate, but it can let you take equity from your home to get you the cash that you need to cover your financial needs, whatever they may be. While these benefits can also be utilized by non-veterans who choose a traditional cash-out loan, there are certain benefits exclusive to veterans that make VA Cash-Out Refinancing particularly useful. 

Refinance from Any Loan Type

Whether you have an existing conventional, FHA, or USDA loan, VA Cash-Out Refinancing can be used to refinance from any non-VA loan into a new VA loan with no down payment required from you. This is helpful for those who do not have enough equity in their homes to refinance into the same type of loan. Luckily, in some cases, the VA allows qualified veterans and their families to refinance up to 100 percent of their home’s value without the burden of paying for private mortgage insurance due to a high loan-to-value (LTV) ratio. Additionally, Cash-Out VA loans allow you to roll all closing costs into the total loan amount, driving down the cost of refinancing. 

Why Choose J.G. Wentworth?

As an approved VA lender with years of experience, J.G. Wentworth works with you to ensure that your VA refinance goes as smoothly as possible. Offering low VA loan rates and multiple refinancing options, we strive to give veterans the opportunity to find convenient and affordable mortgages for their homes. We have developed an outstanding reputation by making customer satisfaction our first priority. By providing veterans with an efficient application process and timely loan turnarounds, we make it easy for you to find the VA mortgage refinance that best fits your needs. 

Get a Quote to Get Cash From Your Home

Regardless of the reasons you may have for refinancing, we are here to help. If you are interested in VA cash-out loans, VA streamline refinancing, or any of the other options that J.G. Wentworth provides, call one of our VA loan specialists or complete our online form to get a quote in minutes.

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How do I get started?

J.G. Wentworth offers a wide variety of loan programs with low rates and no points and no hidden fees.  To get started, you can call us or let us contact you by completing a short form.  You can also get a rate quote in seconds with no personal information required. We look forward to working with you.