Many homeowners in Virginia have built equity they would like to put to work. A cash-out refinance replaces your current mortgage with a larger one and pays you the difference, leaving you with one loan and one payment. It can fund renovations, debt consolidation or education costs, but it also raises the balance secured by your home. Choose your city below to learn more and talk with a licensed loan officer.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Virginia recording costs: State recordation tax on deeds and on deeds of trust/mortgages, city or county recordation tax, and the grantor tax on deeds - all collected by the circuit court clerk as a prerequisite to recording. Your Loan Estimate lists the taxes that apply to your loan.
Where cash-out refinance activity is highest in Virginia
| County | loans originated (2024 HMDA) |
|---|---|
| Fairfax County | 1,644 |
| Chesterfield County | 1,426 |
| Prince William County | 1,316 |
| the City of Virginia Beach | 1,224 |
| Loudoun County | 1,053 |
| Henrico County | 957 |
| the City of Chesapeake | 876 |
| Stafford County | 627 |
| the City of Richmond | 437 |
| the City of Hampton | 427 |
Start your application in a few minutes. A licensed loan officer reviews it and follows up with your options.
- Takes a few minutes
- Reviewed by a licensed loan officer
- No obligation to proceed
Prefer to talk first? Call (888) 912-6746. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Cash-Out Refinance by city in Virginia
- Abingdon
- Alexandria
- Annandale
- Aquia Harbour
- Arlington
- Ashburn
- Ashland
- Bailey's Crossroads
- Bedford
- Belle Haven
- Bellwood
- Belmont
- Bensley
- Big Stone Gap
- Blacksburg
- Bon Air
- Brambleton
- Brandermill
- Bridgewater
- Bristol
- Broadlands
- Broadway
- Buckhall
- Buena Vista
- Bull Run
- Burke
- Burke Centre
- Carrollton
- Cascades
- Cave Spring
- Centreville
- Chamberlayne
- Chantilly
- Charlottesville
- Cherry Hill
- Chesapeake
- Chester
- Christiansburg
- Collinsville
- Colonial Heights
- Countryside
- Covington
- Crosspointe
- Crozet
- Culpeper
- Dale City
- Danville
- Dranesville
- Dulles Town Center
- Dumbarton
- Dumfries
- Dunn Loring
- East Highland Park
- Emporia
- Ettrick
- Fair Lakes
- Fair Oaks
- Fairfax
- Fairfax Station
- Falls Church
- Farmville
- Fishersville
- Floris
- Forest
- Fort Belvoir
- Fort Hunt
- Fort Lee
- Franconia
- Franklin
- Franklin Farm
- Fredericksburg
- Front Royal
- Gainesville
- Galax
- George Mason
- Glen Allen
- Gloucester Point
- Great Falls
- Greenbriar
- Groveton
- Hampton
- Harrisonburg
- Herndon
- Highland Springs
- Hollins
- Hollymead
- Hopewell
- Huntington
- Hybla Valley
- Idylwood
- Independent Hill
- Innsbrook
- Kings Park
- Kings Park West
- Kingstowne
- Lake Barcroft
- Lake Monticello
- Lake Ridge
- Lake of the Woods
- Lakeside
- Lansdowne
- Laurel
- Laurel Hill
- Leesburg
- Lexington
- Lincolnia
- Linton Hall
- Long Branch
- Lorton
- Loudoun Valley Estates
- Lowes Island
- Lynchburg
- Madison Heights
- Manassas
- Manassas Park
- Manchester
- Mantua
- Marion
- Martinsville
- Massanetta Springs
- McLean
- McNair
- Meadowbrook
- Mechanicsville
- Merrifield
- Montclair
- Montrose
- Mount Vernon
- Neabsco
- New Baltimore
- Newington
- Newington Forest
- Newport News
- Norfolk
- North Springfield
- Norton
- Oakton
- Orange
- Petersburg
- Pimmit Hills
- Poquoson
- Portsmouth
- Potomac Mills
- Pulaski
- Purcellville
- Quantico Base
- Radford
- Reston
- Richlands
- Richmond
- Roanoke
- Rockwood
- Rocky Mount
- Rose Hill
- Salem
- Sandston
- Seven Corners
- Short Pump
- Smithfield
- South Boston
- South Riding
- South Run
- Springfield
- Staunton
- Sterling
- Stone Ridge
- Strasburg
- Stuarts Draft
- Sudley
- Suffolk
- Sugarland Run
- Timberlake
- Triangle
- Tuckahoe
- Tysons
- University of Virginia
- Vienna
- Vinton
- Virginia Beach
- Wakefield
- Warrenton
- Waynesboro
- West Falls Church
- West Springfield
- Williamsburg
- Winchester
- Wolf Trap
- Woodburn
- Woodlake
- Woodlawn
- Woodstock
- Wyndham
- Wytheville
- Yorkshire
Common questions
How much cash can I take out?
It depends on your home's appraised value, your current payoff, your credit, the loan type, whether you live in the home and the investor's limits. Lenders cap how much of the value can be borrowed, and the caps change over time. A loan officer can estimate your available equity once they know your payoff and a likely value, but the appraisal sets the final figure.
How long until I receive the money?
Timelines depend on your file, the appraisal and the lender's workload, so no one can promise a date. After signing on a primary residence, federal law generally gives you a short right of rescission before funds are released. Once that period ends, the old loan is paid off, any debts listed for payoff are paid directly, and the rest is sent to you.
Can I use a cash-out refinance to buy out my ex-spouse?
Yes. Many divorce settlements call for one spouse to keep the house and pay the other their share of equity. A cash-out refinance can fund that payment while removing the departing spouse from the mortgage. Some investors treat a court-ordered equity buyout differently from a standard cash-out, so share your decree with the loan officer early to see which programs may apply.
Related guides
- Cash-Out Refinance vs. HELOC: Choosing How to Use Your Equity
- When Does Refinancing Your Mortgage Make Sense?
- HELOC vs. Home Equity Loan: Which Way to Tap Your Equity
- First-Time Home Buyer Programs in Virginia
Cash-Out Refinance overview · Virginia mortgage overview
- 2024 Home Mortgage Disclosure Act (HMDA) data; U.S. Census Bureau Building Permits Survey 2025