I have a conventional loan with a first $121500, and a second of $52500. I have used my VA loan once, but pay it off. My bank tells me I can not combine both into one VA lone.Something about "cash out" will not be done by the VA. Are they correct? My home was appraised at 199,500.00 three months ago.Jake123
The guidelines I have states that you can go up to 90% on a cash out with VA. If VA has changed their guidelines recently or there is some other reason they couldn't get it done I do know FHA is a possibility if you want to refinance your two loans together.