Cash-out refinance

Refinance for more than you owe and take the difference in cash for improvements, debt payoff, or other needs.

Photo: Adobe Stock (free collection) · Adobe Stock standard license · asset 551589356 · licensed 2026-09-06 under the Chris Does Photos account

Who it's for

Homeowners with meaningful equity and a use for the funds.

How it works

The new loan pays off the old one; the remaining amount is paid to you at closing.
Guidelines cap how much equity you can take out.

What you'll need

Equity
Income and credit documents
A stated purpose for the funds

Common questions

Is a cash-out rate higher?

Usually slightly, because the loan is larger relative to the home's value.

By design this page shows no rates, APRs, payments, or down-payment percentages. Those figures are only published with the full disclosure block required by Regulation Z.

Structured data on this page (JSON-LD, for review)

{
 "@context": "https://schema.org",
 "@type": "FAQPage",
 "mainEntity": [
  {
   "@type": "Question",
   "name": "Is a cash-out rate higher?",
   "acceptedAnswer": {
    "@type": "Answer",
    "text": "Usually slightly, because the loan is larger relative to the home's value."
   }
  }
 ]
}