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

The Complete Guide to the VA Cashout Refinance Loan

The Complete Guide to the VA Streamline Refinance, IRRRL