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Best Expert Answer
Joe Wallace
3 months ago
Are you asking about a new purchase loan? Or are you looking for cash-out refinance loans? A VA loan is intended for owner-occupiers only, so if the loan is permitted you will need to certify that the property securing the loan is your primary residence.

You would likely need to apply for a VA Cash-Out Refinancing loan assuming you are eligible for the VA loan program. The amount of the loan would depend in part on a new appraisal. According to VA loan rules in the VA Lenders' Handbook, "The veteran must have sufficient available entitlement for the loan. If an existing VA loan on the same property will be paid off by the refinancing loan, the entitlement used for that existing loan can be restored for purposes of obtaining the new loan." Whether your lender will allow a VA refinance loan on the property is something you'll need to take up with the participating lender as lender standards may vary. The VA doesn't seem to directly address the matter of refinancing a property that has no existing VA mortgage under the Refinancing Loans section but doesn't seem to expressly forbid it, either.
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