Cash Out Refinance
Unlocking Your Home’s Equity
Turn Home Equity into Financial Flexibility
A cash-out refinance lets you put your home’s equity to work for you. If your home has increased in value or you’ve paid down your mortgage over time, you may be able to replace your current loan with a new one and receive cash at closing. That money can be used for almost any purpose, giving you more control over your finances without taking out multiple loans.
Many homeowners choose this option to simplify their budget or invest back into their home. Instead of juggling high-interest credit cards or personal loans, a cash-out refinance may offer a lower interest rate and a single monthly payment. This can make managing money easier while also helping you plan ahead with confidence.
Because the loan is tied to your home, a cash-out refinance often comes with better rates than unsecured borrowing options. That can mean real savings over time. It’s a practical way to access funds when used thoughtfully, especially if your goal is long-term financial stability rather than short-term spending.
Ready to Start?
Not sure if a Cash-Out Refinance is right for you? Contact us and we can walk through your goals and see if a Cash-Out Refi is right for you.
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Simplified Payments
Replace multiple high-interest debts with one mortgage payments to streamline your budget and reduce monthly stress.
Competitive Rates
Mortgage rates are often lower than credit cards or personal loans, helping you save money over time.
Equity Access
Turn a portion of your home’s equity into cash you can use for major expenses, financial goals, or planned investments.
Is a Cash-Out Refinance Right for You?
A cash-out refinance works best when it aligns with your financial goals. If you plan to stay in your home for several years, the long-term savings may outweigh the upfront costs. It can be a smart option for major expenses like renovations, education costs, or consolidating high-interest debt.
That said, it’s important to understand the trade-offs. Because you’re borrowing against your home, your mortgage balance increases. This means you’ll want to borrow only what you need and make sure the new payment fits comfortably within your budget. A thoughtful approach helps protect the equity you’ve worked hard to build.
Timing also matters. Interest rates, home values, and personal finances all play a role in deciding whether now is the right moment. Taking the time to review your options and understand the numbers can help you move forward with confidence and clarity.
Frequently Asked Questions
How is a cash-out refinance different from a home equity loan?
A cash-out refinance replaces your existing mortgage. A home equity loan is a second loan on top of it.
Can I use the cash for anything?
Yes. Funds can be used for home projects, debt consolidation, education, or other financial needs.
Will my monthly payment change?
It may increase or decrease depending on your new loan amount, interest rate, and loan term.
Does a cash-out refinance affect my home ownership?
No. You still own your home, but you’ll have a new mortgage with updated terms.
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