Cash-Out Refinance in Texas & Florida
Turn equity into cash.
Turn your equity into cash — for debt consolidation, home improvements, or your next investment.
120+ lender partners · Same-day response · NMLS #2661068 · Licensed in TX & FL
Overview
A cash-out refinance replaces your existing mortgage with a larger loan and gives you the difference as cash drawn from your home's equity. It's one of the most flexible tools in home finance: the money can consolidate higher-interest debt, fund a renovation, cover a large expense, or become the down payment on an investment property. Because it's secured by your home, the rate is typically far lower than credit cards or personal loans — which is exactly why it's such an effective way to reset expensive debt.
Most programs let you borrow up to about 80% of your home's value on a primary residence, with the exact number confirmed by an appraisal. There's one important local wrinkle: Texas has its own constitutional home-equity rules for cash-out on a homestead, and they genuinely differ from Florida's. I walk every Texas homeowner through those rules before we plan around the money, so there are no surprises at closing.
How a cash-out refinance works
The lender appraises your home, applies the program's maximum loan-to-value (typically ~80% on a primary residence), and subtracts your current payoff — what's left is your available cash. You get a brand-new first mortgage at today's rate and terms, and the cash is disbursed after closing. Because you're borrowing more than a simple rate-and-term refinance, the rate is usually a touch higher, and the math only makes sense when the new payment and the use of funds work in your favor. I run that break-even with you honestly — if consolidating debt or funding the project doesn't come out ahead, I'll tell you.
Who it's for
Cash-out refinancing fits homeowners with meaningful equity who want to consolidate high-interest debt, renovate, invest, or fund a major goal at a mortgage rate rather than a consumer-credit rate. It's especially powerful for people carrying credit-card or personal-loan balances, and for buyers using their equity to acquire a rental or second property across Texas and Florida.
What to know
Cash-Out Refinance, plainly.
Equity to cash
Borrow against your home's value and take the difference at closing.
Up to ~80% LTV
On a primary residence, confirmed by an appraisal.
Lower-cost debt
Mortgage rates are typically far below credit-card or personal-loan rates.
Common uses
Debt consolidation, renovations, or an investment-property down payment.
Texas homestead rules
Special constitutional cash-out rules apply; we cover them up front.
One new first mortgage
Replaces your existing loan entirely, at today's terms.
Frequently asked
Frequently asked questions.
Related guides
- Cash-Out vs Rate-and-Term Refinance: Which Is Right for You?The difference between a cash-out refinance and a rate-and-term refinance — how each works, LTV limits, costs, and when to choose which. For homeowners in TX & FL.
- Should You Refinance? How to Run the Break-Even MathWhen refinancing is worth it — how to calculate your break-even point, weigh closing costs vs monthly savings, and avoid resetting your term. For homeowners in TX & FL.
- 7 Ways to Prepare for a Refinance AppraisalHow to prepare for a refinance appraisal and support your home's value — curb appeal, comps, documenting upgrades, and what appraisers look at. For homeowners in TX & FL.
Explore related programs
- RefinanceLower your rate, change your term, drop mortgage insurance, or take cash out of your equity — when the numbers actually work.
- HELOCTap your home's equity as a flexible line of credit — without touching the first mortgage and rate you already have.
- VA Cash-Out RefinanceTap your equity with the power of the VA benefit — often at a higher LTV than conventional, with no monthly mortgage insurance.
Next step
See your cash-out numbers.
Send your balance and value and I'll show you what you can access.
120+ lender partners · Same-day response · NMLS #2661068 · Licensed in TX & FL
NMLS #2661068 · 120+ lender partners · same-day response