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Mortgage

Cash-Out Refinance

Definition

Refinancing a mortgage for more than the current balance and receiving the difference in cash.

Example

The owner refinanced a $240,000 balance into a $310,000 loan, taking $65,000 out after costs.

Frequently asked questions

What does Cash-Out Refinance mean in real estate?

Refinancing a mortgage for more than the current balance and receiving the difference in cash.

How is Cash-Out Refinance used in practice?

The owner refinanced a $240,000 balance into a $310,000 loan, taking $65,000 out after costs.

This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.