Loan option
Cash-Out Refinance
A cash-out refinance replaces your current mortgage with a new, larger one - and gives you the difference in cash to use however you choose.
What Cash-Out Refinance actually is.
A cash-out refinance is one of the most flexible ways to tap home equity. You replace your existing mortgage with a new one for more than you currently owe, and pocket the difference in cash.
The new mortgage starts fresh with its own rate and term - typically 30 years fixed. That means a fixed monthly payment, no balloon, and a long runway to repay.
The most common uses: home improvements (often tax-deductible), high-interest debt consolidation, college tuition, business capital, and pulling equity to fund additional real estate investments.
Illustrative sample figures for a template demonstration. Not a rate quote, not an offer to lend, and not live market data.
Who this fits
- Homeowners with significant equity
- Borrowers funding home improvements
- People consolidating high-interest debt
- Investors pulling equity to fund the next purchase
What this program buys you.
- Tap Home Equity
- Convert equity into cash without selling the home.
- Secured Debt Prices Lower
- Mortgage debt is secured by the house, so it prices well below unsecured card debt. The trade is that you have moved the debt onto your home and stretched it over decades.
- Tax-Deductible (Sometimes)
- Interest may be deductible when funds are used for home improvements.
- Fixed Long-Term Rate
- Lock the new loan for 15-30 years with predictable payments.
The process
Four moves from first call to keys.
Each step has one job and one owner. You always know which of the four the file is sitting in.
- 01Equity AnalysisWe confirm you have enough equity for the cash-out target.
- 02ApplyFull mortgage application - same docs as a purchase.
- 03AppraiseAppraisal sets the new loan ceiling (typically 80% LTV).
- 04Close & Receive FundsCash arrives at closing or shortly after.
Questions this program raises.
If yours is not here, ask it. You will get an answer in writing from the officer who would work the file.
Other programs
Get this priced against your own file.
Tell us the scenario and we will come back with real figures for Cash-Out Refinance, and for the programs you did not ask about, so you can see all of them at once.
Illustrative sample figures for a template demonstration. Not a rate quote, not an offer to lend, and not live market data.