• EXPERIENCE MATTERS: With over 50-years combined lending experience, Joe and Eric Metzler are your VA home loan experts.
  • The VA Cash Out Refinance Loan

    Cashing out refers to the refinancing of a loan where the borrowers will take out any additional money above what is owned on the home, other than any closing costs..

    For example, if a home is appraised at $200,000 and the borrower's outstanding mortgage loan is $100,000, it is possible to enter into an 80% cash-out refinance transaction for a loan of $160,000 (80% of $200,000). The new mortgage of $160,000 would pay off the existing $100,000 loan and give you $60,000 cash-out to use however you wish.

    What are the benefits of a VA Cash Out refinance?

    By cashing out on your home, you can obtain cash on the value of your own home to pay off existing debts (like credits cards) or pay for upcoming expenses (college), or even get the money to update or repair your home (new siding, new roof). Consolidating debt into one loan can make it feel like a new day by eliminating multiple payments into one easy mortgage payment.

    The refinance may also provide you with a lower interest rate too if rates are lower today than when you initially got you loan. 

    CASH OUT IS NOT A HELOC (home equity loan)

    While you are taking cash out, a cash out refinance is different from a Home Equity Loan (HELOC). A home equity loan is a new smaller loan. You leave your existing mortgage alone. The cash out refinance you pay off your existing mortgage AND take additional cash in one new mortgage.


    The VA loans allow you to take cash out 'up to 100%' of the appraised value of your home minus any funding fees. How cool is that?

    This is a huge benefit over traditional conventional and FHA loans, which currently only allow you to cash out to just 80% of the appraised value. You can you the money for anything you wish. There are no restrictions.

    Your Cambria Mortgage Loan Officer's are highly skilled in VA loan, and will be able to answer exactly how much you can receive back on a cash-out refinance.  Just call us at (651) 552-3681

  • VA Refinance Rates

    VA refinance rates, just like interest rates for purchasing a home, are a little bit lower than standard conventional rates.

    As mortgage interest rates are constantly moving, it is hard to keep accurate rates on a website.  Plus, many factors go into determining a VA refinance rate. This includes your credit score, is it a VA streamline refinance (just redoing an existing VA loan), or a VA Cash Out refinance, where you get extra cash out above and beyond what you currently owe? 

    Refinancing out of any other mortgage loan into a VA loan is also considered a VA cash out refinance.

    The only way to get an accurate VA refinance rate quote, is with a full loan application, or at least by providing your Cambria Mortgage VA loan expert a little bit of information.  Simply complete our Quick Quote VA Refinance form.  No SSN required

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    If you are looking for this type of VA refinancing, Cambria Mortgage is your preferred VA mortgage center that can help make it a new day in your life with a VA loan suited to your financial needs. Being Veterans United together makes us all stronger!