Cash-Out Refinance
Cash-Out Refinance
Access your home's equity for renovations, debt consolidation, or any purpose.
What It Is
A cash-out refinance replaces your existing mortgage with a larger loan, and you receive the difference in cash. It's a powerful way to access your home's equity for home improvements, debt consolidation, investment, or any other purpose.
Who Qualifies
Homeowners with significant equity (typically 20%+ remaining after the cash-out), a credit score of 620 or higher, and stable income. The maximum cash-out is typically 80% of your home's appraised value.
Basic Requirements
—Minimum 620 credit score (680+ for best rates)
—Maximum 80% loan-to-value after cash-out
—Stable income documentation
—Appraisal required
—Debt-to-income ratio under 45%
Key Benefits
Access large sums of equity at mortgage rates
Lower rates than personal loans or credit cards
Interest may be tax-deductible (consult a tax advisor)
Consolidate high-interest debt
Fund home improvements that increase value
Single monthly payment replaces multiple debts
Ready to Get Started?
Talk to a loan officer today. We'll review your situation and find the best program for you — no obligation.