Is Cash-Out Refinancing For You?

If you are ready for a cash out refinance, be sure to check out our Top 5 User Reviewed Home Refinancing Companies.

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by Charlotte Kim, 6/21/2019

Do you need a large amount of money in a short period of time? Have you been paying into a mortgage OR own your home and wish you could get some of that money back without selling the house?

If you answered yes to BOTH of those questions, then we have officially found the answer to your problems. It turns out you don’t need to sell your house to get cash out of your equity. Cash-out refinancing is an option that allows you to turn your home equity into usable cash quickly.

What Is Cash Out Refinancing?

Cash out refinancing is when a lender completely pays off your mortgage, gives you all of your equity back in CASH, and signs a new mortgage with you on the property. It’s basically an easy way of taking equity out of your mortgage. If you own your property outright, you’re basically opening a new mortgage and getting a large lump sum of cash for the value of your property. It’s extremely easy to find a top rated company with’s Top 5 User Voted Refinancing Companies.

Is It Beneficial To Me Or Hurtful In The Long Run?

Cash out refinancing is a wonderful option for anybody who needs to pull equity out of their home quickly.

Beware of lenders who promise the world and sign you on to a bad mortgage. If our verified users gave any company less than a 7/10, we do NOT recommend them.

To see the top 5 home refinancing companies that our verified users voted on, see our Top 5 User Voted Refinancing Companies.

Common Uses For A Cash Out Refinance

Home improvements: Add value to your property by repairing, renovating, or expanding. When you add value you get more cash. Improve your portfolio.

Debt consolidation: Simplify your financial situation by contained all your debts into one large loan that has a lower interest rate.

Education/Bills/Other Unexpected Financial Situations: Pay your bills, tuition, fees, or emergency room bill with a cash-out refinance.

Renovations are the #1 Use for Large Cash Out Refinance Payments

How Much Cash Can I Get If I Refinance My Mortgage?

This all depends on your current financial situation and the proposed use of your funds and the lender. Check our list to speak with a trusted, highly rated cash out refinance lender about the details of your situation and request a quote and estimate. The cash is normally paid in a lump sum after closing, and most of the time is paid via check or wire. Just make sure you use a trusted user-reviewed company from our Top 5 Refinancing Companies List

What Does It Cost Me To Cash Out Refinance My Home?

First, you will need a home appraisal, which is typically paid upfront by the homeowner, and like any other mortgage, you’ll have a closing cost.

Cash Out-Refinancing is Great for Blossoming Families

Cash-Out Refinancing VS Home Equity Loan?

When you compare cash-out refinancing with other options such as lines of credit or home equity loans, the interest rate for refinancing tends to be lower. It may also provide the chance to change your mortgage type and terms.

funding tree

Our highest voted finance company of 2018, with some of their finest accolades coming from the refinancing category.

Funding currently has an average user rating of 9.5 with over 90,300 votes on

Their dedicated staff is often cited as having the friendliest customer service in the industry.

Real Crown Investing currently has an average user rating of 8.5 with over 57,500 votes on

TB Lending CO. also helps fund people with quick cash. Their complaints revolved around communication issues.

Real Crown Investing currently has an average user rating of 8.5 over 92,500 votes on

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