The VA cash-out refinance lets eligible Florida veterans and active-duty service members refinance up to 100% of their home's appraised value — the highest LTV of any refinance program in the market.
Why VA cash-out beats conventional
- Up to 100% LTV — conventional caps at 80%
- No PMI, ever — even at 100% LTV
- Competitive rates — often 0.25–0.5% below conventional cash-out
- Flexible credit — most lenders will go down to 580–620 FICO
- No prepayment penalty
Who qualifies
- Veterans, active-duty service members, National Guard / Reserve with sufficient service
- Surviving spouses of service members who died in service or from a service-connected disability
- Must have a valid Certificate of Eligibility (COE) — we pull this for you at no cost
- Property must be your primary residence
Florida VA cash-out markets
Florida has one of the largest veteran populations in the country. Strongest VA markets include Jacksonville (NAS Jacksonville, NS Mayport), Tampa (MacDill AFB), Pensacola (NAS Pensacola, NAS Whiting Field), Panama City (Tyndall AFB, NSA Panama City), and Fort Walton Beach / Destin (Eglin AFB, Hurlburt Field). VA IRRRL and VA cash-out are heavily used across all of these.
Two Florida-specific notes
- Homestead exemption is not disturbed by refinancing when the property remains your primary residence.
- Coastal insurance — start hazard, wind, and (where applicable) flood insurance quotes the day the refi begins. Carrier availability and premium changes can otherwise delay closing.
FAQs
Can I do a VA cash-out refinance on a second home or investment property in Florida?
No. VA cash-out is limited to your primary residence. VA loans are primary-only.
Do I need an appraisal for VA cash-out?
Yes. Unlike VA IRRRL, VA cash-out requires a full appraisal so the lender can verify current value and calculate LTV.
Does refinancing affect my Florida homestead exemption?
No — refinancing does not disturb your homestead exemption when the property remains your primary residence. The exemption is tied to the property, not the loan.
What is the VA funding fee on cash-out?
First use: 2.15% of the loan amount. Subsequent use: 3.3%. Veterans with a service-connected disability rating are exempt entirely.
Related: VA IRRRL Florida · VA loans Florida · Cash-out refinance Florida · Refinance Florida hub