Mortgage Pipeline
Cash Out

Cash Out

Access your equity with a cash-out refinance.

6.3%Current rate*
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*Rates shown are illustrative and subject to change.

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Photo by Alexander Mass on Unsplash

Cash-Out Refinance: Access Your Home's Equity

Replace your current mortgage with a larger loan and receive the difference in cash.

A cash-out refinance lets you tap into the equity you've built in your home. Use the funds for debt consolidation, home improvements, education, or other financial goals — all while potentially getting a better interest rate than credit cards or personal loans.

  • Access your home equity as cash at mortgage rates
  • Typically lower rates than credit cards or personal loans
  • VA borrowers can access up to 90% of their home's value

Cash-Out Refinance Requirements

Here's what most lenders look for:

  • Sufficient home equity (typically 15–20% remaining after cash-out for conventional; VA allows up to 90% LTV)
  • Acceptable credit score (usually 620+ for conventional, 580+ for VA/FHA)
  • Stable income and employment documentation
  • Home appraisal to determine current market value
  • Debt-to-income ratio within program guidelines
See How Much Equity I Have

What Does a Cash-Out Refinance Cost?

Costs are similar to a standard refinance, with a few differences:

  • Closing costs — typically 2–5% of the new loan amount
  • Possible higher interest rate compared to rate-and-term refinance
  • VA funding fee (for VA cash-out refinances; exempt for disabled veterans)
  • Private mortgage insurance if exceeding 80% LTV on conventional loans
Even with costs factored in, consolidating high-interest debt at mortgage rates often saves thousands in interest over time.

Benefits of Cash Out

Access cash at lower mortgage rates vs. credit cards (7% vs. 20%+)
Consolidate high-interest debt into one manageable payment
Fund home improvements that increase property value
Mortgage interest may be tax-deductible (consult your tax advisor)
VA borrowers pay no PMI regardless of LTV
One monthly payment instead of juggling multiple debts

How to Apply

1

Answer a few questions

Tell us how much equity you'd like to access and what you plan to use it for.

2

Get matched

We connect you with a lender who offers competitive cash-out rates.

3

Close your loan

Finalize your new mortgage and receive your cash at closing.

Explore Cash Out Topics

VA Cash-Out Refinance Requirements & BenefitsVA Cash-Out Limits: How Much Equity Can You Access?FHA Cash-Out Refinance Requirements & GuidelinesFHA Cash-Out Refinance Limits: Real Borrowing PowerFHA Cash-Out for Debt ConsolidationVA Loan Debt Consolidation Strategy

Frequently Asked Questions

The amount depends on your home's current value and existing mortgage balance. Conventional loans typically allow up to 80% loan-to-value (LTV), while VA loans allow up to 90% LTV.

You can use the funds for almost anything: debt consolidation, home improvements, education expenses, emergency reserves, or other financial goals. There are no restrictions on how you use the cash.

It depends on your situation. A cash-out refinance replaces your existing mortgage with one loan at one rate. A home equity loan adds a second payment. Cash-out refinances often offer lower rates but involve refinancing your entire mortgage.

Most cash-out refinances close in 30–45 days. Processing time depends on the appraisal, documentation, and lender capacity.

Ready to get started?

Apply in under 2 minutes and get connected with a cash out specialist.

Start Your Application