Homeowners

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Cash-out refinance

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

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Who it's for

Homeowners with meaningful equity and a use for the funds.

How it works

  1. The new loan pays off the old one; the remaining amount is paid to you at closing.
  2. 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.