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What is Refinancing Cash Out?

A cash-out refinance loan is the refinancing of an existing mortgage into a larger mortgage in order to adjust the interest rate and loan terms while putting the borrower in a better financial situation. This is possible due to the difference in mortgage funds and the increased funds which gives the borrower an amount they can use outside of the mortgage. Borrowers are free to do whatever they choose with their cash-out funds.

Cash-out at refinance allow homeowners to access additional funds from their home’s equity. For example, a homeowner who owes $100,000 on a $400,000 home can use a cash-out refinance on the property to pay off the existing debt and get some extra money.

Jumbo Loan interest rates are affected by a borrower’s financial credentials.

To get a personalized quote, Phone 818-921-7053, Email: or
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Why Choose CalSun Mortgage for Cash Out Refinancing?

CalSun Mortgage has been in the mortgage industry for over 35 years, earning the trust and respect of every client along the way. We take pleasure in catering to the individual needs of each and every homebuyer we serve across California. Whether you’re a first-time homebuyer or self-employed, you can count on our knowledgeable loan officers to be there for you every step of the way.

CalSun Mortgage is committed to making homeownership more accessible to everyone by providing a diverse variety of loan solutions with low rates and fees. Every day, we aim to enhance the process of mortgaging your home. Want to learn more about how a CalSun Cash-Out Refinancing can help you take advantage of the equity in your home? Contact us today to talk with a loan officer!

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Cash-out refinances are used by California homeowners for a variety of reasons. The following are some of the most common causes for a cash-out refinance:


  • Reduced monthly payments and lower interest rates on a new loan
  • Loans with a shorter term
  • Change your adjustable-rate mortgage to a fixed-rate mortgage.
  • To use a portion of the equity in their house for home upgrades, tuition, debt consolidation, and other purposes.

In California, the requirements for a cash-out refinance are similar to those for a non-cash-out refinance loan. If you have a 620 credit score, a Debt-To-Income ratio of less than 45 percent, and a Loan-To-Value ratio of less than 80 percent, you are most likely eligible for a cash-out refinance loan.

The normal time frame for a cash-out refinance transaction with most reputable mortgage firms is 30 days (if rates are really low the process might take longer due to the high volume of applications). It can take as short as 14-21 days in some circumstances. 

Since every lender is different, it’s important to question the Loan Officer upfront about the estimated closing date. In California, some lenders require 45 to 60 days to close a cash-out refinance.

In California, most cash-out refinances require an appraisal. However, it is best to check with individual mortgage lenders to see if an appraisal is required for a cash out refinance.

To be eligible for a cash-out refinance or loan, borrowers must have at least 20% equity in their homes, which translates to a maximum loan-to-value (LTV) ratio of 80% of the home’s current value.

A cash-out refinance allows you to pay off your current mortgage and replace it with a new one. With a home equity loan, you are taking out a second mortgage on top of your original one, which means you now have two liens on your property, which amounts to two independent creditors, each with a potential claim on your home.

Helped to over 3000 borrowers to purchase and refinance their dream homes.

To get a personalized quote, Phone 818-921-7053, Email: or
Apply Now

People Are Saying

Karolyn Gatsby
Karolyn Gatsby
West Hills , CA
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I was looking to cash out refinance my mortgage and I had heard good things about CalSun. They are an amazing company who really looks out for their clients. I know it can be a little overwhelming at first but they guide you through the process every step of the way! They really put their clients first, which is something that's very important to me.
Nicole Carter
Nicole Carter
Valley Village, CA
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I was hesitant about refinancing cash out on my home because my credit is not that great. I found CalSun Mortgage and they were really helpful in explaining the process. I had my loan approved within a month and am now saving an incredible amount on mortgage payments every month!
Rhonda Trench
Rhonda Trench
Canoga Park, CA
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I had a great experience refinancing with CalSun Mortgage. Within a matter of weeks I went from a 30 year fixed to a 15 year fixed and saved myself about $200,000 in interest. It was clear from the start that they were looking out for my best interests and I'm glad I chose them
Luke Chamberlain
Luke Chamberlain
N. Hollywood, CA
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I highly recommend CalSun Mortgage to anyone looking for cash out refinancing. I just got my mortgage refinanced with them and the process was super easy. They got to out within a day, I got the best interest rate in town, and they were incredibly helpful in guiding me through the whole process.
Margaret and Dean Anders
Margaret and Dean Anders Riverside, CA
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We were looking to refinance the house so we could take advantage of interest rates. The woman at CalSun Mortgage was great! She helped us find the best cash out refinancing option, and it only took about 9 days to do everything. She was also very approachable and friendly. I would definitely recommend CalSun Mortgage to anyone in our shoes!

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