How long do I have to wait before taking cash out (seasoning periods)?
It depends on the loan. For a conventional cash-out refinance, at least one borrower generally needs six months on title, and a first mortgage being paid off must be at least 12 months old. FHA generally wants 12 months of owning and living in the home. Refinancing a VA loan into a new VA loan has its own clock: 210 days and six payments. Lenders can add their own rules, like a clean recent payment history.
Last updated September 29, 2026What is a seasoning period?
A minimum time, or number of payments, before you can take a certain loan action. For cash-out refinances, seasoning rules mainly slow down repeated, rapid refinancing of the same home. The rule depends on the loan you have and the loan you're refinancing into.
What are the rules by loan type?
- Conventional (Fannie Mae): at least one borrower on title for six months before the new loan funds, and an existing first mortgage being paid off at least 12 months old, measured note date to note date. There are exceptions, like an inherited home.
- FHA: you generally need to have owned and lived in the home as your primary residence for 12 months before the new loan gets its case number.
- VA loan into a new VA loan: the new loan's first payment can't come earlier than the later of 210 days after the first payment was due on the old loan, or six monthly payments made on it.
Does refinancing a non-VA loan into a VA cash-out follow the VA clock?
Not the same one. The 210-day and six-payment test is for refinancing an existing VA loan. When a VA cash-out pays off a conventional or FHA loan, other VA rules apply, and there's no VA seasoning test tied to how long you had the old loan.
Does a recent late payment matter?
VA doesn't publish a specific lookback for late payments before a cash-out refinance. Some lenders set their own rule, like no more than one late payment in about the past year. That's lender policy, so it varies.
It depends on your situation:
- Conventional cash-out: six months on title, and a 12-month-old first mortgage if you're paying one off.
- FHA cash-out: 12 months of owning and living in the home.
- VA loan into a VA cash-out: 210 days and six payments, whichever is later.
- A recent late payment: ask each lender about its own rule.
| Conventional cash-out (Fannie Mae) | Six months on title; loan being paid off at least 12 months old |
|---|---|
| FHA cash-out | 12 months owned and lived in |
| VA loan into a VA cash-out | Later of 210 days after the first payment due date or six payments |
| Other loan into a VA cash-out | No VA seasoning tied to the old loan |
| Recent late payment | Lender policy |
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Sources
- https://www.benefits.va.gov/HOMELOANS/documents/circulars/26_20_16_exhibita.pdf
- https://www.va.gov/housing-assistance/home-loans/loan-types/cash-out-loan/
- https://www.thefederalsavingsbank.com/Blog/veterans-affairs-va-cash-out-refinance-after-forbearance-or-late-payments-whats-possible/
- https://selling-guide.fanniemae.com/sel/b2-1.3-03/cash-out-refinance-transactions
- https://www.hud.gov/sites/dfiles/OCHCO/documents/40001-hsgh-update15-052024.pdf
Sourced from licensed loan officers and brokers in the FreeRateUpdate network.
Educational information only, not individualized financial or legal advice. Program details and rates change; verify current terms with a licensed loan officer before making a decision.