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See the cash-out possibilities
The market’s moving fast but we can help you move faster. Just enter your address and find out if now’s the time to tap into your equity. The cash-out refinancing basics
A cash-out refinance lets you to borrow cash from the home equity you've built as you've paid your mortgage. Watch the video below for a run-down from our Bankrate experts. Bankrate's Hanneh Bareham covers the basics of cash-out refinance
Your home equity is the difference between your home's estimated value and your mortgage balance, which is how much of your mortgage you have left to pay off.
Cash-out refinancing can be a smart way to borrow a big amount of cash all at once. You can use it to improve your home, consolidate debt, or make other big financial moves.
A cash-out refi might be a good option for you if you've got a good amount of home equity built up and you're looking to borrow for a specific goal. Hear from our Bankrate experts on how to tell if cash-out is right for you. Bankrate's Ashley Parks discusses how to know if a cash-out refinance is right for you Cash-out refinance for your goals
Caret Down A Improve my home B Consolidate Debt C Refinance my home D Figure out where to start Improve your home with a cash-out
Cash-out refinancing can cover expenses for major home upgrades that increase your home value, like fixing up an outdated bathroom or finally putting together your dream kitchen. Before you start knocking down walls, it's always a good idea to research your options. We've put together some handy articles and tools to help you get started. Recommended Articles
A cash-out refi lets you tap your home equity in cash. See if it’s right for you. Sometimes financing is the only way to afford important home renovations. Know your options and pick the loan that will help you get the job done. If you’re considering renovations, refinancing can help pay for them. A cash-out refi lets you tap your home equity in cash. See if it’s right for you. Sometimes financing is the only way to afford important home renovations. Know your options and pick the loan that will help you get the job done. If you’re considering renovations, refinancing can help pay for them. Consolidate debt with a cash-out
When it comes to paying off debt, the simpler the better! If you can borrow from your home at a low interest rate, you could cut out higher interest debt and consolidate everything into your mortgage payment. There are many ways to tackle debt, so it's always good to know your options. We've put together some articles and tools to help you get started. Recommended Articles
A cash-out refi lets you tap your home equity in cash. See if it’s right for you. Using home equity to consolidate debt can be a smart choice. A cash-out refi lets you tap your home equity in cash. See if it’s right for you. Using home equity to consolidate debt can be a smart choice. Refinance your home
Tapping into your home equity works well when you're looking for a large lump sum of cash. If you just want to lower your monthly payment, refinancing with a lower rate can help you save. No matter what your goals are, refinancing is a big decision that requires a little research. We've put together some useful articles and tools to help you get started. Recommended Articles
A cash-out refi lets you tap your home equity in cash. See if it’s right for you. There isn’t one type of refinancing that makes sense for everyone. Here’s how to pick. Here’s what you need to know about refinancing before you get started. There’s more than one way to refinance. Here are some of your options. A cash-out refi lets you tap your home equity in cash. See if it’s right for you. There isn’t one type of refinancing that makes sense for everyone. Here’s how to pick. Here’s what you need to know about refinancing before you get started. There’s more than one way to refinance. Here are some of your options. Figure out where to start
Not sure where to start? You're in the right place! Refinancing is a big decision, but we're here to help you understand your options. We've put together some helpful articles and resources that can help you figure out if refinancing is a good next step for you. Recommended Articles
Your home isn’t a piggy bank, but there are wise ways to use its equity. Knowing the differences among equity loans will help you make the right choice. A cash-out refi lets you tap your home equity in cash. See if it’s right for you. Your home isn’t a piggy bank, but there are wise ways to use its equity. Knowing the differences among equity loans will help you make the right choice. A cash-out refi lets you tap your home equity in cash. See if it’s right for you. See how much you can borrow
Just enter your home’s current estimated value and the amount you have left to pay on your mortgage. We’ll show you how much you may be able to borrow from your home. Compare your borrowing options
Mortgage CalculatorCash-out refinance A lump sum of cash taken out of your home equity, paid back through your new mortgage payment. Features Secured by home equity Higher borrowing limits No extra monthly payment Home equity line of credit A line of credit that’s borrowed from your home equity, and works more like a credit card. Features Secured by home equity Common for home projects Use what you need Home equity loan A loan that’s taken out of your home equity, but is paid back as a separate monthly payment. Features Secured by home equity Access a lump sum of cash No effect on mortgage Personal loan A loan that is not secured against your home equity and is paid back as a separate monthly payment. Features Not secured by equity Can have lower limits No effect on mortgage Refinance A new loan to replace your current mortgage, likely with a lower rate or different term. Features No effect on home equity Can lower interest rate No access to cash Mortgage CalculatorCash-out refinance A lump sum of cash taken out of your home equity, paid back through your new mortgage payment. Features Secured by home equity Higher borrowing limits No extra monthly payment Home equity line of credit A line of credit that’s borrowed from your home equity, and works more like a credit card. Features Secured by home equity Common for home projects Use what you need Home equity loan A loan that’s taken out of your home equity, but is paid back as a separate monthly payment. Features Secured by home equity Access a lump sum of cash No effect on mortgage Personal loan A loan that is not secured against your home equity and is paid back as a separate monthly payment. Features Not secured by equity Can have lower limits No effect on mortgage Refinance A new loan to replace your current mortgage, likely with a lower rate or different term. Features No effect on home equity Can lower interest rate No access to cash The Bankrate difference
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