Using equity in a VA to conventional Refi

[Chris McKinley]

Is it possible to do a VA to conventional refi and use the equity in the house you are refinancing as the down payment for the house? For example - Jonny owes 80k on a house valued at 100k Jonny has a VA loan on the house and wants to refi to a conventional Can Jonny take the 20k in equity he has in the house and use that as the down payment for the conventional loan? Thanks in advance for the help. Cheers -Chris