VA Cash out loans are typically used for debt consolidation, pay off debts or home improvements. We offer up to 100% cash out on your equity of your house.
On cash out VA loans, lenders sometimes will require a little higher credit score. The minimum score required by some of my lenders is a 580-middle score.
The interest rate and closing costs can sometimes be a little higher on cash out loans. Your VA funding fee is required to be paid again on these. 2.15% on first time use and 3.3% on a subsequent use. Closing costs on these can also be rolled into the loan.