Refinance & Equity
Cash Out Refinance
Turn some of your home equity into cash for what matters to you.
What it is
A cash-out refinance replaces your mortgage with a larger loan and gives you the difference in cash.
Who it's great for
- Home improvements
- Paying off high-interest debt
- Big life expenses
Key features
- Access equity in one lump sum
- Consolidate higher-interest debt
- Fund improvements or tuition
General requirements
- Enough equity (limits vary by program)
- Income and credit documentation
- Appraisal
General guidelines only. Every loan is subject to credit approval, underwriting and property review. Not a commitment to lend.
Common Questions
How much can I take out?
It depends on the program and your home's value.
Is cash-out better than a HELOC?
It depends on your current rate and how you'll use the money. I'll compare both.
Is the cash taxable?
Generally no, but ask your tax advisor.
Can I do this with a VA loan?
Yes, VA offers a cash-out option.
Is a Cash Out Refinance Right for You?
Let's talk about your situation. Honest answers, no pressure.
NMLS #172296 | Licensed in Colorado