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What is a Cash Out Refinance?

When your refinance your home, you may want to extract some of the equity you have built up and convert it to cash. This type of transaction is referred to as a "cash-out refinance." Certain loan program limits may determine whether you may take cash out, and if so, how much.

Cash you receive from a refinance transaction generally may be used for any purpose, including paying off or consolidating other loans, buying a car, home remodeling or repair, or just increasing your cash reserves.

Cash Out Refinance Limits

The maximum amount of financing for a "cash out" refinance loan is generally lower than for a refinance that is used only to replace an existing loan. The maximum "cash out refinance" loan amount is expressed as a percentage of your home's value and specific dollar limits also apply. The limits depend on the loan program.

Some loan programs currently offered may permit a cash-out refinance as high as 95% of the value of your home, while others will have lower limits.

Get a Cash Out Refinance Quote

You may get an instant quote for your cash out refinance by using the form on this page. No personal information is required, and the results are returned in a few moments. And please feel welcome to contact us to discuss your refinance needs.