Align Lending
Align Lending
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    • Home
    • Why Align?
    • First Time Buyer
    • Joint Venture
    • Apply now
    • Products
      • Conventional Loans
      • FHA Loans
      • VA Loans
      • USDA Loans
      • Jumbo Loans
      • Cash-Out Refinances
    • Contact Us
    • About
      • Testimonials
      • FAQs
      • About
      • Careers
  • Home
  • Why Align?
  • First Time Buyer
  • Joint Venture
  • Apply now
  • Products
    • Conventional Loans
    • FHA Loans
    • VA Loans
    • USDA Loans
    • Jumbo Loans
    • Cash-Out Refinances
  • Contact Us
  • About
    • Testimonials
    • FAQs
    • About
    • Careers

Cash-Out Refinances

Take advantage of the equity you’ve built in your home by replacing your existing home loan with a new mortgage, rate, and cash in your pocket. 

What is a Cash-Out Refinance?

A cash-out refinance replaces your current mortgage with a larger loan and pays you in cash the difference between the amount borrowed and what you own on your home. The cash can be used for any purpose like home remodeling, debt consolidation, or general financial goals.

Apply Now

Benefits of a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Depending on the equity in your current home, cash-out refinances help improve your mortgage’s loan terms and provide cash-in-hand. Here are a few additional benefits:


  • Lock in a lower interest rate
  • Shorten the loan term or change your loan program depending on your needs
  • Use the cash funds for any purpose without restrictions 
  • Improve your credit score if your credit utilization decreases
  • Receive tax deductions if you use the funds for home improvements and meet the IRS eligibility requirements

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

In order to get a cash-out refinance, you need to meet your lender’s requirements and qualifications, such as:


  • A credit score of 620+
  • A debt-to-income ratio of 45% or lower
  • At least 20% equity in your home (paid off 20% of the current appraised value of your home)
  • Meet the seasoning requirements of your current loan program, which will range from 6-12 months

Getting started with Align Lending

 Ready to purchase or refinance your home? Apply today with Align Lending to learn more about your options! 

Apply Now

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