Cash Out Refinance To Purchase Investment Property The cash-out refi is simple: Say your home is worth $400,000 and you owe $250,000. Since lenders typically allow mortgages as large as 80% of the property. budget to save for the purchase you’d.Va Cash Out Refinance Texas 3 Ways to Refinance to a VA Loan.. Cash-Out Refinance. A VA cash-out refinance is a loan that replaces an existing loan with a VA loan and pulls equity out of the subject property in the form.FHA cash-out maximum loan-to-value (LTV) is 85 percent of the home’s current value (a new appraisal is required) compared to the maximum conventional cash-out LTV of 80 percent. The higher limit is why many homeowners choose an FHA refinance instead of conventional.