Cash Out
Basics
A Cash Out refinance loan is used to gain access to the equity you have gained in your property. These funds can be used to consolidate debt, fund projects, buy an investment property or many other reasons.
Cash Out refinances have different Loan to Value guidelines compared to a Rate and Term refinance as they carry a little more risk to the lender.
Primary Residence Cash Out Refinance
- 1 Unit Property - 80% LTV
- 2 Unit Property - 75% LTV
Second Home Cash Out Refinance
- 1 Unit Property - 75% LTV
Investment Property
- 1 Unit Property - 75% LTV
- 2 Unit Property - 70% LTV