Cash-out refinance. Put your equity to work
A new loan pays off the one you have, and the difference comes to you in cash. We shop it with 130+ lenders and make sure the numbers work for you first.
How a cash-out refinance works
You take a new, larger loan that pays off your current mortgage. The difference between the two comes to you in cash at closing.
Because you are borrowing against your home, we compare a cash-out refinance with a HELOC or second loan, which leaves your first mortgage alone. If your current rate is low, that is often the better fit.
Who it fits
- Homeowners remodeling or adding on
- Homeowners paying off higher-interest debt
- Owners covering a big expense, like tuition
- Investors pulling equity from a rental (ask about DSCR cash-out)
How it works with us
- Know your equityStart with a free Home Value Report, or tell us what you think the home is worth.
- One soft pullWe check your credit once, without affecting your score, and shop the file with 130+ lenders.
- Compare the optionsConventional, FHA or VA cash-out, a HELOC or a second loan. We show you which comes out ahead.
- CloseWe handle the appraisal, title and lender, and get your cash to you at closing.
What to have on hand
You don't need all of it to start. The application tells you what's missing.
- Your most recent mortgage statement
- Homeowners insurance declarations page
- Pay stubs covering the last 30 days and W-2s for the last two years
- Bank statements for the last two months, all pages
- Self-employed? Ask about bank statement cash-out
Good to know
What's the difference between a cash-out refinance and a HELOC?
A cash-out refinance replaces your mortgage with a larger one. A HELOC is a separate line of credit, so your first mortgage stays exactly as it is. We compare both.
Can veterans take cash out with a VA loan?
Yes. Eligible veterans can take cash out through a VA loan, and can use it to move a non-VA loan into a VA loan.
Can a cash-out refinance get me out of FHA mortgage insurance?
It can, if your equity allows. A conventional cash-out can replace an FHA loan and its mortgage insurance.
What can I use the cash for?
Remodeling, paying off other debt, a big expense, or anything else. We make sure the numbers work for you first.