Need to take equity out of your home?

A cash-out refinance allows you to take advantage of the equity you’ve built up in your home and use that money however you need—whether it’s for home improvements, paying off high-interest debt, or investing in your future.

It’s when you refinance your existing mortgage with a new loan for a higher amount than what you currently owe. You receive the difference in cash at closing.

• You’ve built up significant equity in your home.
• You want to consolidate high-interest debt like credit cards.
• You need funds for home renovations, college, or business investment.
• You’re ready to restructure your mortgage terms (rate or duration).

• Conventional Cash-Out Refi – Requires strong credit and at least 20% equity.
• FHA Cash-Out Refi – More flexible credit and income guidelines.
• VA Cash-Out Refi – Up to 100% LTV for eligible veterans.

• Lower interest rate compared to personal loans or credit cards
• May be tax deductible (consult your tax advisor)
• Can increase your property value if used for renovations