Submitted by queef_quencher t3_11chlgz in personalfinance
93195 t1_ja31e3s wrote
Sure, assuming you’d still have the equity that a conventional loan requires, typically 20% after the cash out.
Remember that VA loans also have funding fees, which get even higher after the first time. Unless you qualify for a waiver (usually based on a disability rating), it’s a significant extra expense and drawback to what you’re considering.
queef_quencher OP t1_ja31m54 wrote
I did not realize there still needs to be 20% equity remaining after the cash out refinance. I am new to this, so thank you. I do have the disability rating so those fees are waived.
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