Cash-out refinance

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Tap into your home's equity with cash-out refinance

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With a cash-out refinance, you pay off your current mortgage and create a new one,
allowing you to keep part of your home’s equity as cash to pay for the things you need.

Pay for home improvements

Whether you’re looking to create a relaxing backyard oasis, upgrade your kitchen to one professional chefs would envy or make energy-saving upgrades to your home, a cash-out refinance can help you access the funds you need to bring your ideas to life.

Consolidate debt

Consolidate your higher-interest credit card and loan debt into one payment. Since the interest rate on your mortgage will likely be lower than your credit card and loan rates, you could enjoy lower payments.

Make a big purchase

Buying a car, paying for a wedding, covering college expenses. Whatever you need it for, a cash-out refinance lets you use your home’s equity to cover these costs at a lower rate than many other loans and credit cards.

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Cash-out refinancing: A few things to know

Accessing funds

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You'll receive your lump-sum payment after closing, and you can start using your funds 3-days after you close.

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Payments & rates

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Your payments will be fixed for the life of your loan, and you'll have a fixed rate on the full amount of your lump-sum payment.

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Closing costs

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You'll pay standard closing costs with a cash out refinance, like application, appraisal and title fees.

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Helpful articles to learn more about refinancing

Refinancing: 5 types and how they differ

Whether you want to lower your monthly payment, reduce the total amount you pay for your home or use your home’s equity to take cash out, refinancing can be a great option to meet your financial goals. No matter your reason, it’s important to find the option that works best for you.

Beginner's guide to cash-out refinance

Learn how cash-out refinances work and what you need to know before you apply for one.

10 common questions about refinancing

Refinancing your mortgage is a big step. By working with a trusted lender, knowing what to expect and having the documentation you need ahead of time, the process will go smoothly.

Next up: Choose a loan

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Cash-out refinance

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