Compare Cash-Out Refinance Lenders
A cash-out refinance replaces your existing mortgage with a new home loan for more than you owe on your house. Apply to these cash-out refinance lenders and see rates and how much you qualify for.
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- Reported average time to close is 15 days faster than industry average.
- High volume of FHA and VA loans.
- Borrowers can apply via mobile app.
- Read our Rocket Mortgage, LLC review
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Has a program to enable buyers to make cash offers.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Read our New American Funding review
- Offers jumbo refinance and government-backed VA refinance options.
- Displays customized refinance rates, with fee estimates, without requiring contact information.
- Refinance origination fees are on the low side compared to other lenders, according to the latest federal data.
- How does cash-out refinance work?
With a cash-out refinance, you take out a new mortgage that's for more than you owe on your existing home loan, but less than your home's current value. You'll receive the difference between the new amount borrowed and the loan balance at closing.
- How do you get the best cash-out refinance rate?
Shop around with multiple lenders to compare cash-out refinance rates. You may also be able to buy points to bring down your refinance interest rate. While you're comparing lenders, be sure to also check the costs and fees associated with getting the refinance. These don't affect your rate, but fewer added fees will lower your closing costs.
- How much cash can I get with a cash-out refinance?
Lenders will limit the cash you take out to 80% to 90% of your home equity. An appraisal will be required to nail down your home’s current market value.
» MORE: Calculate your refinance savings
