VA is changing their guidelines for cash out refinances with an effective date of September 1st 2019 for most lenders, some have already stopped taking applications under the old system. Concord Mortgage inc. will continue to take applications under the old system until August 31st 2019. VA will now limit the amount of equity you can access from your home by refinancing to 90% of the appraised value. Under the old system you were able to access all of the equity, or 100% of the appraised value.
There is still time to act. if you want to refinance to pay off debts do home improvements or just pull your equity for any reason if you get your application in by August 31st 2019 you will still be able to get 100% of the value of your home.
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