If you have enough equity in your home, a cash-out loan underwritten to conventional standards can provide more cash to you without the need for a funding fee. Before going forward with a cash-out refinance, have a solid financial plan in place. Which of the following goals applies to you...
However, the VA does collect an upfront funding fee (unless you’re exempt), which insures your loan against default and protects the originating lender. So in a sense you’re still paying insurance for the loan. It can be paid at closing or rolled into the loan amount, with the latter...