VA Loan Question - Getting cash back

[Dean Weltman]

My wife and my mother are on the loan for our residence, a SFR. I want to 'buy' the house from my wife and mother using my VA loan, and I want to finance 100% of appraised value. This would result in me getting approx $90k back at closing. Can I do this? Several lenders have already told me I would have to do a refi, and that I can't get any cash back in this type of arrangement. Anyone know differently? Useful info (approximations): Purchase price: $230k Down payment: $40k Current loan: $190k ARV (about to remodel it): $280k Thanks for the help. LO's please chime in.