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Cash-Out Refinance

A cash-out refinance can help you meet your financial needs.

  • Use your home equity to your advantage! Get money out of your home and use it for anything you want. 
  • Make home improvements to increase the value of your home, pay for college tuition, pay off high-interest credit card debt, or buy a vacation home.
  • Homeowners over 62 can access their home’s equity like cash with our reverse mortgage.

Talk to a Home Loan Expert now (305) 930-1007 to see if refinancing your home can help you meet your financial goals.


​Here’s why you should choose Standard Mortgage:  

​​With more than 35 years of experience, we’ve designed a paperless mortgage process that adapts to your needs.


Here are our most popular loan options for refinancing:

  • FHA loan – Refinance up to 85% of your home’s value.
  • 30-year fixed-rate loan – This traditional mortgage with fixed payments is great for budgeting.
  • Adjustable rate mortgage – Save thousands in interest with our lowest rates available!
  • VA loan – Refinance up to 90% of your home’s value with the VA loan if you’re a veteran, military member or spouse.

What’s the difference between a cash-out refinance and a home equity loan?

​Home equity refers to the appraised value of your home minus the amount you still owe on your loan.

The more equity you have, the more money you may be able to get from a cash-out refinance. Many homeowners take cash out to pay off high-interest debt or make home improvements.


What determines how much cash I get after refinancing?

In general, the cash-out amount is calculated by subtracting the balance of your old loan from the amount of the new mortgage loan, although many other factors, such as applicable fees, the type of loan you get and your equity, can affect your final cash-out amount.


How much does it cost to refinance?

It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing. However, refinancing to get cash out or consolidate your debt may result in a longer loan term or a higher rate, and that might mean paying more in interest overall in the long run.


Talk to a Home Loan Expert to see if refinancing your home can help you consolidate your debt.


​What documents are required to refinance?

The following is a list of documents generally required during the refinance application process:

  • Proof of income: Typically, you’ll need to show original pay stubs for the last 30 days.
  • Copy of homeowners insurance: We’ll need to verify that you have current and sufficient coverage on your home.
  • Copies of your W-2 forms: Each loan applicant will need to supply W-2 forms so we can verify past employment and income history.
  • Copies of asset information: This includes statements for accounts that hold money for closing costs, statements for savings, statements for checking and 401(k) accounts, and investment records for mutual funds or stocks.
  • Copy of title insurance: This helps us verify things like taxes, names on the title and the legal description of the property.

Your lender will also need to pull your credit report as a part of the refinance process, so have your Social Security number handy when it’s time to apply.


How often can I refinance my home?

Some states have limits on how soon or how often their residents can refinance a home loan; these limits are often designed to ensure that the refinance process benefits the homeowner. Regulations aside, it’s very important to make sure that refinancing helps you meet your financial goals. Deciding if it makes sense to refinance your home depends on a number of factors: Does your current lender have a prepayment penalty? Do you have enough equity built up in your home? Are interest rates lower now than they were when you first got your home loan? Do you plan to stay in your home for many years?


Talk to a Home Loan Expert to see if refinancing your home can help you meet your goals.