What is cash-out refinance?

If your home is worth more than your current loan balance, congrats! You’ve got home equity! With that home equity, you may be eligible to take a cash-out refinance for up to 80% of your home’s current value. 

And that difference between how much it’s worth and how much you owe means you can pay off your old mortgage with a new one that gives you cash back. 

You’ll still have monthly payments like before, but with a cash-out refinance mortgage you'll have new terms, could be eligible for a lower rate, and the cash for things you need.

Contact us today to see your cash-out option