What can I use the cash from a cash-out refinance for?
When you receive the cash from your home equity, it’s yours to use as you see fit. Some popular options are to consolidate debt, fund home repairs, or help with everyday expenses.* There are no restrictions on how you can utilize the funds, but we recommend consulting your own financial advisor before making any decisions.
*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.