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Contact our VA Cash Out refinance team
It won’t affect your credit to apply, and a friendly NewDay VA Loan Expert will help you every step of the way.
VA Cash Out Refinance: Put your equity to work
WATCH NOWGiving Veterans a hand up.Admiral Tom Lynch
Use your VA benefit and borrow up to 100% of your home’s value. Our Veterans are getting an average of $81,000 cash out.
WATCH NOWGiving Veterans a hand up.Admiral Tom Lynch
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NewDay can say “Yes” to a Veteran
The NewDay difference: Veterans get more cash
With a conventional loan, Veterans can only borrow up to 80% of their home’s value. With the NewDay 100 VA Cash Out Loan, Veterans can borrow up to 100%. That extra 20% can mean thousands of dollars more for you and your family. Our Veterans are getting an average of $81,000 to pay off high-rate credit cards, car loans and more³ — saving hundreds a month; thousands a year. You can even have the security of cash in the bank.
By this time next month, you could have your cash!
3. Consolidating debts may increase repayment time and total finance charges may be higher over the life of the loan.
Getting your cash is as easy as 1-2-3 with the NewDay 100 VA Cash Out Loan
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No money out of pocket to apply
At NewDay USA, we make it simple to close your loan with no out-of-pocket costs. We’ll pay for your appraisal and inspection fees up front — and everything can be financed into your loan.†
† Consumer not charged up front for appraisal, credit report, termite inspection or water test. Consumer can choose to pay these fees in the loan amount or at closing. Charges apply if appraisal is transferred to another lender.
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Find out how much cash you can get
Once your appraisal is complete, we’ll let you know how much equity you can turn into cash — up to 100% of your home’s value.
With today’s high home values, you may have more equity than you think. Our Veterans are taking an average of $81,000 cash out.
Get your cash
Just four business days after closing your loan, the money can be in your hands — ready to use however you need it.
1
Contact our VA Cash Out refinance team
It won’t affect your credit to apply, and a friendly NewDay VA Loan Expert will help you every step of the way.
2
No money out of pocket to apply
At NewDay USA, we make it simple to close your loan with no out-of-pocket costs. We’ll pay for your appraisal and inspection fees up front — and everything can be financed into your loan.†
† Consumer not charged up front for appraisal, credit report, termite inspection or water test. Consumer can choose to pay these fees in the loan amount or at closing. Charges apply if appraisal is transferred to another lender.
3
Find out how much cash you can get
Once your appraisal is complete, we’ll let you know how much equity you can turn into cash — up to 100% of your home’s value.
With today’s high home values, you may have more equity than you think. Our Veterans are taking an average of $81,000 cash out.
Get your cash
Just four business days after closing your loan, the money can be in your hands — ready to use however you need it.
What do Veterans use cash out for?
Pay off high-rate credit cardsYou can save hundreds of dollars a month, thousands a year.³
Pay off your car or truck
You can get a fresh start and own your vehicle outright.³
Plan for retirement
Put cash into your retirement savings now, and get your money working for you.
3. Consolidating debts may increase repayment time and total finance charges may be higher over the life of the loan.
Get started Get startedWhat a difference 100% makes
If your home is valued at
$400,000
At 80% you borrow
$320,000
Minus the mortgage balance
-$320,000
Remaining cash for you
$0
If your home is valued at
$400,000
NewDay100 — unlocks 100% of your home’s value
$400,000
Minus the mortgage balance
-$320,000
Remaining cash for you
$80,000
Turning equity into cash for your family —
that’s the power of the NewDay 100 VA Cash Out Loan
Get started Get startedYou may have built up significant equity in your home
Cash Out Calculator
See how much cash may be available to you.
For an actual quote, call the team at NewDay USA.
Cash Out to You:
$80,000
Join more than 100,000 Veterans
who trust the NewDay USA team
Cash out your home equity Cash out your home equity
Everything NewDay promised is what we got. Jack Dorman was professional, courteous, and always timely with communication. He made refinancing pain-free and stayed on top of every detail. Thanks for making a long process quick and easy.
Steven B.
This was my first refinance in 30 years. NewDay made it simple with streamlined transactions and easy document uploads. Stephen’s knowledge built my trust in the process. Thanks to him and the entire NewDay team.
Anthony
From beginning to end, the team at NewDay made the refinance transition a pleasant experience. I would like to thank everyone at NewDay for their assistance throughout the loan process. Again, thank you for everything.
Terry D.
The NewDay USA team went above and beyond. When our appraisal came in low, VP Craig Burris personally got involved and made it work financially. Great job to the team, truly committed to helping veterans.
Cisco P., CPT, US Army (RET)
My experience with NewDay USA and Mr. Gabriel Brizuela was outstanding. His professionalism, knowledge, and dedication to serving the veteran community were like a breath of fresh air. I highly recommend NewDay USA and Mr. Brizuela to any veterans looking to finance or refinance.
Lin
Are you eligible?
We honor our Veterans and are ready to help those who served make the most of their home equity.
Active-duty service member- Veteran with honorable discharge
- Reservist / National Guard with honorable discharge and sufficient time served
- Surviving spouse of an eligible deceased Veteran
- Spouse of a MIA / POW service member
“We can say YES to a Veteran, when other lenders say NO.”NewDay Cash Out FAQs
The maximum loan amount depends on your home value, available equity, and VA loan entitlement. One of the benefits of a VA Cash Out Loan is the ability to borrow up to 100% of your home’s value. By comparison, conventional loans are capped at 80%.
Cash Out refinancing will reduce your VA entitlement by the amount of the loan. This can affect your ability to use VA loan benefits for future home purchases.
Depending on your situation, you may need to provide: W2s, tax returns, pay stubs, credit history related to mortgages, property appraisal, verification of U.S. citizenship, verification of VA entitlement, employment history or proof of retirement income.
Typically, a VA Cash Out Refinance can take 30 to 45 days to complete, though this can vary.
You may still be able to turn a non-VA loan into a VA-backed loan. Find out if you’re eligible.
Yes, you will need a new appraisal to get a NewDay 100 VA Cash Out Loan. However, to make it easier for Veterans, in many cases NewDay USA will pay upfront for the appraisal and there will be no out-of-pocket costs to apply. So you will not be charged upfront for the appraisal, and you can choose to pay these fees in your loan amount, or at closing. Note that charges apply if the appraisal is transferred to another lender.
Call one of our Veteran Loan Experts now and we’ll see how low we can go for you.
A NewDay USA VA Cash Out Refinance Loan is for homeowners who want to turn their home equity into cash to address such concerns as paying off high-interest debt, funding school, making home improvements, or just to have the security of cash in the bank.* This type of refinance loan can also be used to refinance a non-VA loan into a VA loan.
* Consolidating your debts may increase the length of time needed to repay the debts and your total finance charges may be higher over the life of the loan.
With a NewDay USA 100 VA Cash Out Loan, you can save hundreds of dollars a month by consolidating high-interest credit card debt into a lower-interest cash-out loan.*
*Consolidating debts may increase repayment time and total finance charges may be higher over the life of the loan.
A VA Cash Out Refinance opens doors
Understanding a VA Cash Out Refinance, and how it can provide you with financial options you may otherwise not have had access to, is critical to taking control of your financial future.
We looked at how a VA Cash Out Refinance works, what the process looks like, what the requirements are, and how Veterans are using this cash to reach their goals.
To learn more about a VA Cash Out Refinance and how it can benefit you, give the experts at NewDay USA a call: 1-800-405-4187 or click on the "Get started" button below.
What’s the difference between a VA Cash Out Refinance and a Conventional Cash Out Refinance?
Access to Cash
Both VA and Conventional Cash Out Refinance Loans allow you to turn your home equity into cash. The difference is how much of your home’s value you can borrow against.
How Much You Can Borrow
Most conventional cash out loans let you borrow up to 80% of your home’s value. But Veterans can borrow up to 100% with a VA Cash Out Loan. That extra 20% can mean tens of thousands more in your pocket.
Same Basic Process
Both loans include an application, a home appraisal, and standard closing costs to finalize the loan.
Want to buy a home without a single dollar? Learn more Learn more