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VA - Home Loans - Cash Out Refinance (Regular Refinance)

Program Description

With this program, you can refinance your current loan, whether it's a VA-guaranteed mortgage or not.

Usually, the new loan is limited to 90% of the appraised value of the house. There are a few exceptions.

General Program Requirements

Persons who may qualify for these refinancing loans include:
  • Veterans (including Reserve and National Guard members who were called to active duty)
  • Active duty service members
  • Current Reserve and Guard members (usually after 6 years of reserve service)
  • Certain surviving spouses
Commissioned Officers of the Public Health Service and National Oceanic and Atmospheric Administration are considered to be active duty members and veterans, once discharged.

Length-of-service requirements apply in most cases.

Veterans must have been discharged under conditions other than dishonorable.

You will need a valid Certificate of Eligibility (COE). You can get one from VA or from a lender using the Automated Certificate of Eligibility (ACE) program.

If you need to obtain your COE, contact a lender about obtaining your COE or download VA Form 26-1880, complete it and mail it (with proof of service) to our Winston-Salem Eligibility Center at:

VA Loan Eligibility Center
PO Box 20729
Winston-Salem, NC 27120

You can download the form at:

For overnight delivery:
VA Loan Eligibility Center
215 N. Main Street
Winston-Salem, NC 27155

Toll free number: 1-888-244-6711

Loan Terms

Market Interest Rate, VA funding fee, and no pre-payment penalties. Maximum loan term cannot exceed 30 years. Monthly payment frequency.

You should talk with a lender to learn more about dollar limits. VA's guaranty is limited.
Your Next Steps
The following information will lead you to the next steps to apply for this benefit.

Application Process

Contact a lender to discuss qualifying for a VA loan. The lender will make sure you meet basic program requirements, including the following:
  • You must have enough income to meet your monthly mortgage payments, maintain the home, take care of other debts and obligations, and still have enough money left over to cover day-to-day expenses (food, gas, etc.).
  • The loan must be for the home you will live in.
  • You must also have a good credit history.
You may also want to use the VA Home Loan website at as a reference point on how to use the program or find answers to other questions you may have about the program.

Please note that if you are interested in obtaining an Adjustable Rate Mortgage (ARM) loan, the loans are being offered as a traditional 1 year ARM and also as hybrids with 3, 5, 7 and 10 year fixed rates, where available.

NOTE: If you plan to stay in your home for longer than the fixed rate period, an ARM may not be in your best interest.

It is a good idea to use a mortgage calculator to determine what the best loan, term and interest rate are for you and your family.

Program Contact Information

For more information on this program, please visit:

Please contact a Regional Loan Center if you have detailed questions:

Managing Agency

Veterans Benefits Administration (VBA)