Cash-Out Refinance

Tap your home's equity at long-term, fixed mortgage rates.

A cash-out refinance lets you replace your current mortgage with a larger one and pocket the difference — often at a rate far lower than a personal loan or credit card. Best when you have a clear, ROI-positive use for the cash and rates are favorable.

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Hero Image hero-cash-out-refi
$2,100
avg. annual interest saved
80%
max LTV typically allowed
$10k–$300k
typical cash-out
4.8★
Homeowner rating
Real talk

Why homeowners overpay

Cash-out refi rates are usually 0.25–0.50% higher than rate/term refi. Lenders can charge a “cash-out adjustment” that surprises borrowers at closing. Always ask for the Loan Estimate with the cash-out specifically priced — never assume the rate you got pre-quoted applies once cash-out is added.

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What's included

What you get when you compare with us

Vetted pros, real pricing, and no high-pressure pitch.

🛠️

Home improvement

Use equity to fund a remodel that adds resale value — interest may be tax-deductible (consult a CPA).

💳

Debt consolidation

Pay off 22% credit card debt with mortgage-rate funds. Save thousands per year in interest.

🎓

Education funding

Often beats federal grad student loan rates — but understand the trade-offs.

📈

Investment opportunities

Some homeowners use equity as down-payment capital for rental properties — high-risk, high-discipline play.

The difference

The Penny Stacker vs. door-knocker pricing

The Penny StackerTypical sales pitch
Up to 80% LTV (conventional) / 80% (FHA) ✓ ✗
Fixed rate, fixed payment ✓ ✗
Long-term amortization (15–30 yr) ✓ ✗
Possible tax-deductible interest ✓ ✗
Closing costs rolled into loan ✓ ✗
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FAQ

Cash-Out Refinance questions, answered

How much equity can I cash out?
Most lenders cap conventional cash-out at 80% LTV. On a $500k home with $200k owed, that's potentially $200k in cash. VA cash-out can go to 100% in some cases.
Cash-out refi or HELOC?
Cash-out: best when you want a fixed rate and a single lump sum. HELOC: best when you want flexibility, plan to draw over years, and can handle variable rates. Cash-out has higher closing costs but locks the rate.
Will my monthly payment go up?
Almost always, yes — you're borrowing more. The trade-off is replacing higher-interest debt (credit cards, personal loans) with mortgage-rate debt, which usually saves money even with the higher P&I.
Are closing costs the same as a regular refi?
Slightly higher — typically 2–5% of the new loan total. The cash-out portion gets factored in, and many lenders add a “cash-out adjustment” of 0.25–0.50% to the rate.
Money-saving guides

More on cash-out refinance

Real, practical tips from homeowners and pros who don't take kickbacks.

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