What it is
A refinance that replaces your current mortgage with a larger one and hands you the difference in cash — on a home or an investment property.
How it works
Lenders typically allow borrowing up to 70–80% of the property's value depending on the program and occupancy. The cash is tax-free proceeds of a loan, usable for anything — the next purchase, a payoff, reserves, a build.
Who it fits
Owners sitting on appreciation, landlords recycling equity into the next door, and anyone retiring expensive debt — including maturing private notes.
What you'll need
An appraisal, a payoff statement on the current loan, and qualification under whichever program fits you — conventional, FHA, or DSCR if it's a rental qualifying on rent.
Good to know
Bought recently with cash? Delayed financing can pull your capital back out within weeks — no 12-month wait.
Two minutes with a licensed advisor beats two hours of reading. NMLS #1511274 · Licensed in California · Florida · Texas
Talk to the DeskGeneral education, not advice for your specific situation. Every file is different — talk to a licensed professional before making decisions.