Secret Cash-Out Refinance Turns Homes Into Dream Havens

How It Works

The process begins with an assessment of your home's current market value and the amount you still owe on your mortgage. Lenders typically allow you to borrow up to 80% of your home's value, minus what you owe. For example, if your home is valued at $400,000 and you owe $250,000, you could potentially refinance up to $320,000. This would give you $70,000 in cash to use as you see fit².