Cash-out refinance | How does it work? | U. S. Bank What is a cash-out refinance? A cash-out refinance is a type of mortgage refinance that lets you convert your home equity into cash It replaces your existing home mortgage with a new, larger loan, and pays you the difference between the new and old mortgage amount at closing Accessing equity and using the funds to consolidate debt or fund a major project are just a few reasons to use a cash
Compare Current Cash-Out Refinance Rates - U. S. News Cash-Out Refinance Rate Trends Interest rates on cash-out refinances are typically higher than rates on standard purchase and refinance mortgages, although they all tend to move in tandem
Cash-out Refinance Calculator - NerdWallet A cash-out refinance can come in handy for home improvements or paying off debt A cash-out refi often has a lower rate than a home equity loan, but make sure the rate is lower than your current