Cash Out Refinance
Cash-Out Refinance – Unlock Your Home’s Equity
A cash-out refinance allows you to tap into your home’s equity and receive cash at closing. This replaces your existing mortgage and any outstanding liens with a new loan, providing access to funds for various financial needs.
Unlike a home equity loan (also called a second mortgage), a cash-out refinance consolidates your debt into a single mortgage. Closing costs are similar to those of your original home loan, and you may also qualify for a Smart Refinance option with no closing costs.
✔ Conventional Cash-Out Refinance – Easier to qualify for compared to FHA or VA options, though income and credit score requirements apply.
✔ FHA & VA Cash-Out Refinance – Government-backed options offering favorable terms for eligible homeowners.
Types of Cash-out Refinance
Conventional Cash-out Refinancing
A conventional cash-out refinance is typically easier to obtain than an FHA or VA refinance, both of which have special eligibility guidelines. Even so, conventional cash-out refinances still have income and credit score requirements.
VA Cash-out Refinancing | FHA Cash-out Refinancing
If you qualify, government-backed FHA and VA cash-out refinances offer lucrative terms.
Key Benefits
All loans are not created equal, debt consolidation loan has become a great option for people to use.
Access Cash for Your Goals
Use funds for home renovations, college tuition, or other major expenses.
Debt Consolidation
Combine credit card balances, auto loans, and student loans into a single, manageable payment.
Lower Interest Rates
Benefit from competitive rates to fund major purchases efficiently.
Home Improvements
Increase your home’s value or make necessary upgrades.
