What is a cash-out refinance and who is it for?
A cash-out refinance replaces an existing mortgage with a larger new loan and pays the homeowner the difference as cash at closing. It is designed for homeowners with meaningful equity who want to consolidate debt, fund renovations, or access cash for a documented purpose. Mortgage Go originates cash-out refinances through licensed loan officers in the states where each officer is individually licensed.
Who it's for
Homeowners with meaningful equity who want to consolidate debt, fund renovations, or access cash for a documented purpose.
Benefits
- Access home equity as cash at closing.
- Consolidate higher-interest debt into a single mortgage payment.
- Fund renovations, education, or other documented needs.
- Available on primary, second home, and investment properties.
Key facts
- Loan purpose
- Refinance — cash out
- Maximum loan-to-value
- Placeholder — pending compliance
- Minimum credit score
- Placeholder — pending compliance
- Loan term
- 15 / 20 / 30 years
Calculator
Cash-Out Refinance calculator embeds here in Phase 2.
Frequently asked questions
What is a cash-out refinance?+
A cash-out refinance replaces your existing mortgage with a larger new loan and pays you the difference in cash at closing. The new mortgage is secured by your home.
How much equity do I need?+
Lenders set a maximum loan-to-value ratio for cash-out refinances. Specific limits are pending compliance sign-off.