Wondering what the difference is between the VA Cashout Mortgage program and the VA Streamline refinance? Check out this handy chart!
| Cashout | Streamline | |
|---|---|---|
| Max Loan | 100% of property value (if there’s enough entitlement and net tangible benefit) | Amount of current VA loan plus closing and funding fee costs, not to exceed 100% of property value |
| Mortgages That Can Be Paid Off | Any mortgage including VA, FHA, USDA, Conventional, HELOC | VA mortgage only |
| Credit Requirements | Full underwriting | Limited credit check but most lenders have a minimum score requirement |
| Income Check | Full documentation | None |
| Funding Fee | 2.15-3.3% (unless exempt) | 0.5% (unless exempt) |
| Can Pay Off Other Debts | Yes | No |
| Cash Back At Closing | Yes | No |
For more info, check out my other blog posts that explain each program in more detail
How To Get A VA Home Loan After Bankruptcy: The Complete Guide https://www.youtube.com/watch?v=4-F5rM28HPM As a veteran, you’ve served our country with honor, and the VA
The VA home loan extenuating circumstance program allows veterans with credit challenges to get approved.
How The NAR Settlement Affects VA Home Buyers https://www.youtube.com/watch?v=sAwS_05na-o The National Association of Realtors settled the commission lawsuit on March 15, 2024. Here are the
Take the 30 second mortgage quiz to see if you qualify
