The ability to access 100 percent of your home's equity is a new benefit for Veterans. It comes as a result of the Veterans' Benefits Improvement Act of 2008. Previously, a cash out VA refinance mortgage was limited to 90 percent of your home's equity. This mortgage is allowable for Veterans and Military Spouses who are currently in a conventional home loan and wish to access 100% of their home's equity.
Q: Who is eligible for a VA 100 percent Cash Out Refinance?
A: Veterans and Military Spouses who are currently in a conventional or subprime mortgage
Q: What is the purpose of a VA 100 percent Cash Out Refinance?
A: To enable Veterans and Military Spouses the ability to access 100% of their home's equity. To obtain low fixed rate financing and refinance out of a subprime loan to a safer, more affordable home loan
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