By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed 2026-10-19. Hyde Funding is a mortgage lender headquartered in San Diego, lending nationwide since 2015, and is not affiliated with the U.S. Department of Veterans Affairs.
Short answer: A VA cash-out refinance replaces your current mortgage (VA or non-VA) with a new VA loan. It lets you take cash from home equity or move a conventional or FHA loan into a VA loan with no monthly mortgage insurance. You need a COE, must live in the home, and the funding fee is 2.15% for first use or 3.3% after.
Per VA.gov: you qualify for a COE, meet VA and lender credit and income standards, and will live in the home you refinance.
Paying off debt, school, home improvements, or other needs. It is also used to refinance a non-VA loan into a VA loan and drop PMI or FHA mortgage insurance.
With Hyde Funding you can typically borrow up to 90% of your home’s appraised value, and higher in some cases. An appraisal is required.
The funding fee is 2.15% for first use and 3.3% for subsequent use (waived for exempt veterans), plus lender closing costs.
Your COE, pay stubs for the most recent 30 days, W-2s for 2 years, and tax returns for 2 years (many lenders), plus any other lender requirements.
Yes. A VA cash-out refinance can replace a non-VA loan, even if you take little or no cash out.
2.15% for first use and 3.3% for subsequent use, unless you are exempt.
Yes. The lender orders an appraisal to determine value.
No. An IRRRL only refinances an existing VA loan to lower or stabilize the rate. A cash-out refinance can take equity and can refinance non-VA loans.
Talk to Steven: (858) 775-1005 · Free VA consultation · Apply now
Steven Hyde, NMLS #391380. Equal Housing Opportunity. Hyde Funding is not a government agency and is not affiliated with the VA. This is general information, not a loan commitment; terms depend on credit, income, property, and lender approval.