Cash-Out Refinance
Learn how a cash-out refinance may allow eligible homeowners to replace an existing mortgage and access a portion of their available equity.
How a Cash-Out Refinance Works
Understand Your Equity
Review your home's current market value and existing mortgage balance to estimate how much equity may be available.
Consider Your Goals
Decide whether taking cash out could support goals like home improvements, debt consolidation, or a major expense.
Explore Refinance Scenarios
A cash-out refinance replaces an existing mortgage with a new mortgage that includes the amount you may take out.
Review Available Next Steps
If you request information, you can learn more about potential options, requirements, and the process before making a decision.
What Homeowners Use It For
Debt Consolidation
Consider whether using home equity to consolidate high-interest credit cards, personal loans, or student debt fits your overall plan.
Home Improvements
Explore ways homeowners use equity for renovations such as kitchens, additions, ADUs, and other improvements.
Investment Property
Some homeowners consider available equity toward a down payment on a rental property or real estate investment.
Education Costs
Consider options for tuition, certifications, or continuing education alongside your broader financial goals.
Emergency Fund
Explore the considerations of building a financial cushion without liquidating investments or taking on high-interest debt.
Business Capital
Learn why some homeowners consider home equity for a business launch, expansion, or equipment purchase.
Common Considerations
- Many cash-out refinance scenarios require equity to remain after cash is taken out; allowable loan-to-value limits vary.
- Credit history can affect the options and terms that may be available.
- Debt-to-income ratio is commonly reviewed as part of a refinance evaluation.
- Property type and occupancy may affect available refinance options.
- Homeowners nationwide can request general information about cash-out refinance topics and possible next steps.
Not sure if you qualify?
Explore the factors commonly considered in a cash-out refinance. Request information when you are ready to learn more about potential next steps.
Request More InformationExplore cash-out refinance resources
Explore Your Cash-Out Refinance Options
Request information about cash-out refinance considerations and potential next steps. No obligation, no hard credit pull.