Timeline of Events for VA Cash-Out Loan
Give Strive Lending a call as soon as you start to think about a cash-out refinance. We can help you decide if it’s the right choice for you. We can also give you more information about the process of applying for a cash-out refinance and will be happy to answer any questions you have. We’ll let you know what documents you need to have ready and will help you get the process started.
It’s a good idea to start gathering the documentation you’ll need for a cash-out refinance as soon as you talk to the lender.
Your loan officer will order an appraisal of your property, which is a very important step in the refinance process. The loan amount can be no more than 100% of your home’s appraised value, and this value is determined by a new appraisal on your property.
Once you’ve provided the necessary documentation and your property has been appraised, your new loan will be underwritten, and then the paperwork will be ready for you to sign. And then all that’s left is for you to enjoy the benefits of your cash-out refinance (either a lower interest rate, some extra cash, or both)!
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