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Cash Out Refinance

A cash-out refinance is a type of mortgage refinance where you borrow more than you owe on your current mortgage, and the difference is given to you in cash. This can be a great way to access the equity you've built up in your home, and use it for a variety of purposes.

Cash Out Refinancing

Refinance Mortgage Calculator

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Use that extra cash to:

Consolidate high interest debt like credit cards
Pay off or consolidate debt
Fund a home renovation
Fund home renovations and repairs
Pay for college tuition
Pay for college tuition for yourself or your children
Plan that dream vacation
Start your own business or invest in the future
Additional benefits of a cash-out refinance may include:
  • Lower interest rates than a personal loan or credit card
  • No additional monthly payments
  • Longer repayment terms
  • No prepayment penalties
  • The interest on a mortgage may be tax-deductible
Overall, a cash-out refinance is a great way to access the equity you've built in your home to get the money you need to achieve your goals. If you're looking to pay off debt, take advantage of our free debt review today and personalized Debt Consolidation Summary. We'll assess your current debt and cash available through a PHH Rapid Refi. Then, you'll receive a personalized summary showing how you could save on your overall monthly bills by paying off these debts.

Have a PHH loan officer review your available cash options today.

*Note: Any equity cashed out in refinance will increase mortgage balance owed on the loan. 

Application approval is subject to complete underwriting review based on program guidelines; not all applicants may qualify. Limitations may apply. This is not a commitment to lend.

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