Wondering what the difference is between the VA Cashout Mortgage program and the VA Streamline refinance? Check out this handy chart!
| Cashout | Streamline | |
|---|---|---|
| Max Loan | 100% of property value (if there’s enough entitlement and net tangible benefit) | Amount of current VA loan plus closing and funding fee costs, not to exceed 100% of property value |
| Mortgages That Can Be Paid Off | Any mortgage including VA, FHA, USDA, Conventional, HELOC | VA mortgage only |
| Credit Requirements | Full underwriting | Limited credit check but most lenders have a minimum score requirement |
| Income Check | Full documentation | None |
| Funding Fee | 2.15-3.3% (unless exempt) | 0.5% (unless exempt) |
| Can Pay Off Other Debts | Yes | No |
| Cash Back At Closing | Yes | No |
For more info, check out my other blog posts that explain each program in more detail
How To Use A Va Bonus Entitlement Calculator How To Use A VA Bonus Entitlement Calculator Table of Contents Key Takeaways Why Bonus Entitlement Matters
Add Your Heading Text Here Can You Have Two VA Loans At The Same Time? Table of Contents Key Takeaways Introduction Can You Have Multiple
Credit Utilization: The #1 Mistake That Hurts Your Score Guest post by Sam Parker at MyCreditGuy Table of Contents Key Takeaways Understanding Credit Utilization: Why
Take the 30 second mortgage quiz to see if you qualify
