When it comes to home financing, cash out refinance VA Loans offer Veterans and Military personnel an advantageous option for not just getting a better interest rate, but also for using the equity they have earned in their home.

What exactly is a cash-out refinance VA Loan?

When Veterans and Military personnel do a cash-out refinance on a VA Loan, they’re essentially taking out a new loan to pay off the original VA mortgage. This new loan pays off the old loan and gives borrowers cash that can be used for a variety of purposes — such as home improvement, paying down debt, and other investments. Cash out refinance VA Loans are available in both fixed-rate and adjustable-rate mortgages (ARMs).

Benefits of a Cash Out Refinance VA Loan

For Veterans and Military, a cash out refinance VA Loan provides the following advantages:

1. Lower Interest Rates

Because this new loan comes with better loan terms and lower interest rates, Veterans and Military personnel are able to save on their monthly payments. This is one of the greatest benefits of a cash out refinance VA Loan, as it provides not just a better interest rate,