How Much Money Can You Get With a Cash-out Refinance?
A cash-out refinance is a kind of mortgage refinance that lets you change the terms of your loan and get cash from the equity you’ve built up in your home. The rest of your mortgage payment pays back the amount you borrowed from your home’s equity, which is different from what you owe on your home and how much it is worth now. Cash-out refinance is an option for conventional loans, government-backed FHA and VA loans, and VA loans.
