When performing a cash-out refinance on a VA loan, you can get up to 100% of the home’s appraised value, plus the amount of the funding fee. For example, if your home is valued at $200,000 and you paid a funding fee of 2.5%, you could get a cash-out refinancing of up to $205,000. One additional caveat is that you may be limited by your available VA entitlement.