Best for
Homeowners with meaningful equity and a specific, documented use for the funds.
- Typically up to 80% of home value on primary residences
- Consolidate higher-rate revolving debt
- Fixed-rate payoff schedule, not a floating line
How much you can access
Conventional cash-out generally allows borrowing up to 80% of appraised value on a primary residence, less your current balance. VA cash-out can go higher for eligible veterans. Investment properties are usually capped lower.
The trade-off to weigh
You're moving short-term debt into a 30-year mortgage. The payment usually drops, but total interest paid can rise if you never accelerate payoff. We'll model both the monthly change and the lifetime cost before you decide.
Alternatives worth comparing
If your first mortgage is at a very low rate, a HELOC or second mortgage may cost less overall than replacing it. That comparison is part of every cash-out conversation.