CONVENTIONAL · CASH-OUT REFINANCE
Put your home
equity toward the
plans that matter.
Explore a new conventional mortgage that replaces your current loan and releases eligible equity. Put the full cost beside your plans before deciding.
Apply NowSee what your equity could do.
Illustrates 80% LTV, before liens and closing costs.
$110,000
- Existing mortgage
- Estimated available equity
- Equity retained
Min $100,000 Max $2,000,000
Min $0 Max $1,500,000
Uses 80% LTV. Other liens, fees, loan limits, and underwriting can reduce proceeds. This is not an approval.
- Rates from 5.99%Fixed rate, subject to credit and LTV
- Up to 80% LTVEligible one-unit primary homes
- 620 minimum creditSubject to full approval
COMPARE YOUR PATHS
Replace your
mortgage or keep it?
THIS LOAN
Conventional Cash-out
- Replaces the first mortgage you have today
- Lump-sum proceeds after costs
- New rate and term on the full loan
ANOTHER PATH
HELOC
- Typically a separate credit line
- Draw as needed within the agreed limit
- Existing first-mortgage terms can remain
ROOM FOR YOUR PLANS
A home that grows
with your plans.
From a new kitchen to a larger plan, understand the cost of using your equity.
A conventional cash-out refinance replaces your existing mortgage with a new loan.
After paying off the old balance and transaction costs, eligible remaining proceeds can help fund your plans.
KNOW WHERE YOU STAND
Loan details.
AT A GLANCE
Conventional Cash-out Refi
- Rate
- From 5.99%, fixed, subject to credit and LTV
- Maximum LTV
- Commonly 80% for eligible one-unit primary homes; other property types differ
- Minimum credit
- 620, with income, asset and property review
- Ownership and loan history
- Generally six months on title and 12 months on the existing mortgage; exceptions apply
- Qualification
- Full underwriting and property valuation; lender rules apply
WHAT GETS REVIEWED
Your starting checklist.
- Documented income, assets, credit and debts
- Eligible property, value and loan amount
- Required ownership and mortgage history
- Review of all liens and total closing costs
Worth considering
The new rate applies to the replacement mortgage. A longer term can increase total interest. Compare a HELOC if keeping your current first mortgage matters. Your home secures the debt.
BEFORE YOU GO FURTHER
Mortgage choices.
Compare the new terms on your whole mortgage with the cost of a separate equity line. The cash available is only one part of the decision.
- 01
Plan your proceeds
Use equity for home projects and other major expenses.
- 02
One replacement loan
Review the new payment, rate, term and closing costs together.
- 03
See the whole picture
Your finances, property value and existing mortgage determine the options available.
How it works.
You set the goal. Explore your options and understand what you’ll need next.
- 01
Tell your story
Start with your goal, your property and how you earn.
- 02
Explore your options
Compare the loan features that fit your situation.
- 03
Review the details
Confirm eligibility, documents, rates and total costs.
- 04
Choose your next step
Proceed when the offer and numbers work for you.
A little more clarity
Common questions.
Clear answers to help you choose your next step.
How much could I access?
An 80% LTV ceiling is common for an eligible one-unit primary home. Subtract mortgage payoffs, other liens and costs; lender rules and loan limits may reduce proceeds further.
How long do I need to have owned the home?
Generally at least six months on title before a conventional cash-out refinance, subject to program guidelines.Draft, pending review
Can I keep my current mortgage rate?
No. A cash-out refinance replaces your current mortgage with a new loan at a new rate. If you’d like to keep your current rate, a home equity line of credit may be worth comparing.Draft, pending review
Will this lower my overall borrowing cost?
Not necessarily. Compare the rate, fees, the new term and total interest with your current mortgage before you decide.
Make room for your next move.
Explore the equity. Compare the whole cost.
Apply Now