A cash-out refinance replaces your existing mortgage with a larger one and pays you the difference in cash — typically up to 80% LTV, at today’s rate.
The essentials
Below are the most common questions. For a personalized cash-out estimate and a comparison against a HELOC, a quick call is all it takes.
Frequently asked questions
How much can I get?
Up to your program’s max LTV (about 80% conventional) minus your payoff and closing costs.
Will it raise my rate?
It replaces your first mortgage at today’s rate, so if your current rate is low, weigh a HELOC instead.
What can I use the money for?
Anything — best for renovations, debt consolidation, or investment rather than depreciating purchases.
How long does it take?
Commonly 30–45 days, with cash disbursed a few days after closing on a primary residence.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.