To qualify you generally need to keep ~20% equity after cashing out (max 80% LTV on conventional; VA can go higher), a credit score usually 620+, a solid debt-to-income ratio, and to meet any seasoning rules.
Loan-to-value limits
Conventional cash-out typically caps at 80% loan-to-value, meaning you keep 20% equity. FHA allows up to about 80% as well, and eligible VA borrowers can sometimes access more. Your available cash is the new loan amount minus your current payoff and costs.
Credit, DTI & seasoning
Lenders verify income, review your DTI, and check credit (often 620+). Many require seasoning — owning the home for a set period before cashing out. Self-employed? We have bank-statement cash-out options.
| Requirement | Typical |
|---|---|
| Max LTV | ~80% (conventional/FHA); VA higher |
| Credit | ~620+ |
| DTI | Reviewed; reserves may help |
| Seasoning | Often required |
Frequently asked questions
How much cash can I take out?
Up to your max LTV (about 80% conventional) minus your current mortgage payoff and closing costs.
Will my mortgage rate change?
Yes — a cash-out replaces your first mortgage, so you take today’s rate. If your current rate is low, weigh that carefully.
Can self-employed borrowers cash out?
Yes — bank-statement cash-out programs exist. We match you to a lender that reads your income fairly.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.