Cash-Out Refinance
Cash-Out Refinance
Turn built-up equity into usable funds at mortgage rates instead of credit card rates.
Joe Piccirello | NMLS #1988505
Homeowners have accumulated significant equity over the past several years. A cash-out refinance replaces your existing mortgage with a larger one and returns the difference to you in cash at closing.
We show you exactly how much you can access, what the new payment looks like, and whether a cash-out refinance, a home equity line, or leaving your first mortgage alone is the smarter move.
- Access up to 80% of your home's value on most programs
- Consolidate high-interest debt into one payment
- Fund renovations, tuition or an investment purchase
- VA cash-out available for eligible veterans
- Fixed-rate stability instead of variable HELOC pricing
- Full break-even analysis before you commit
How Much Equity Can You Actually Take Out?
Most conventional and FHA cash-out refinances cap out at 80% loan-to-value. If your home appraises at $500,000 and you owe $250,000, an 80% LTV loan is $400,000 — roughly $150,000 in gross proceeds before closing costs. VA cash-out may allow higher LTVs for eligible borrowers.
The appraisal drives everything, so we review recent comparable sales in your neighborhood before you order one.
Debt Consolidation Math
Rolling credit cards or a personal loan into your mortgage lowers the interest rate dramatically, but it also stretches the balance over a longer term and secures it against your home. The right comparison isn't just the monthly payment — it's total interest paid and what happens if the cards get used again. We walk through both sides honestly before recommending it.
Cash-Out Refinance vs. HELOC
A cash-out refinance replaces your whole mortgage at a fixed rate — best when today's rate is close to or below your current one, or when you need a large lump sum. A HELOC or second mortgage leaves a low first-mortgage rate untouched and gives you a revolving line, usually at a variable rate. If you're sitting on a 3% first mortgage, a second lien is often the better answer, and we will say so.
Frequently Asked Questions
How long does a cash-out refinance take?
Typically 30 to 45 days from application to funding, including appraisal. Owner-occupied refinances also include a three-day right of rescission after signing.
Is cash-out money taxable?
Proceeds are loan funds, not income. Interest deductibility depends on how the funds are used — confirm details with your tax advisor.
Is there a waiting period after buying?
Most cash-out programs require you to have owned the property for at least 12 months, with some exceptions. We confirm seasoning requirements for your specific program.
Joe Piccirello | NMLS #1988505
Licensed mortgage loan originator. Verify licensing at NMLS Consumer Access.
Edge Home Finance Corporation | NMLS #1988505
5868 Baker Rd, Minnetonka, MN 55345, USA
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Ready to See Your Numbers?
Call or text us at (602) 502-2268 or request a quick quote online.