Cash-out refinancing pros and cons. If you have home equity and need cash when mortgage rates are low, a cash-out refinance could be an affordable way to borrow a large amount of money at a lower ...

Cash-out refinancing allows you to convert your home equity into cash and take out a loan that is larger than your current mortgage. If your home is worth $500,000 and you have $200,000 left on ...

What Is Cash-Out Refinancing? Having equity in your home means your home is worth more than you owe on it. For example, if your home is worth $300,000 and the principal balance on your mortgage is ...

FHA cash-out refinances allow access to up to 80% of your home's value, and conventional loans typically let you refinance up to 80% but may require private mortgage insurance, ...