Turn your home's equity into cash, on your terms.
A cash-out refinance replaces your current mortgage with a new, larger one - and you receive the difference in cash. One new loan, one new payment, and funds you can use for almost anything.
- Home Improvements
- Debt Consolidation
- Investment Opportunities
- One Loan, Not Two Payments
Get a Free Rate Quote
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What makes a cash-out refinance different
One loan, not two payments
Unlike a HELOC or Home Equity Loan, a cash-out refinance replaces your current mortgage entirely - a single new loan, a single monthly payment.
Cash for any purpose
Renovations, debt consolidation, tuition, emergencies, or an investment opportunity - the funds are yours to use as needed.
Revisit your rate and term together
Access your equity and reset your rate or loan term in the same transaction, instead of two separate moves.
Wholesale rates, shopped for you
Coltrain compares wholesale rates across lenders instead of quoting from one in-house rate sheet.
Not sure if a cash-out refinance is your best option?
The top reasons homeowners cash out
Home Improvements
Fund renovations that can increase your home's value and potentially reduce future maintenance costs.
Debt Consolidation
Pay off high-interest credit cards or personal loans and consolidate into one lower-rate monthly payment.
Education Expenses
Cover college tuition or other education costs using the equity you've already built.
Emergency Funds
Access funds for unexpected expenses, like medical bills or a major home repair.
Investment Opportunities
Some homeowners use a cash-out refinance to purchase an investment property or fund another opportunity.
From rate quote to funding
Get a rate quote
We review your home's value, your current mortgage, and how much equity is available to access.
Choose your cash-out amount
Decide how much equity to convert to cash based on what you actually need.
We handle underwriting
Your loan officer manages documentation and keeps you updated at every step.
Close and receive your funds
Sign your new loan terms and receive your cash shortly after closing.
Your equity, put to work.
A cash-out refinance can be one of the most useful financial tools available to a homeowner - but it's not automatically the right move for everyone. Our team walks through your actual numbers, including how a new loan amount and rate compare to your current mortgage, so you know exactly what you're accessing and what it costs to get there.
Cash-out refinance questions, answered
What is a cash-out refinance, exactly?+
It's a new mortgage that replaces your current one for a higher amount than you currently owe. The difference between the two loan amounts is paid to you in cash at closing, and your old mortgage is paid off in the process.
How is this different from a HELOC?+
A cash-out refinance replaces your existing mortgage entirely, leaving you with one loan and one payment. A HELOC or Home Equity Loan sits alongside your current mortgage as a separate, second loan. See our full Cash-Out Refinance vs. HELOC comparison for a closer look.
Will a cash-out refinance change my interest rate?+
Yes - because it replaces your entire mortgage, your new loan carries a new rate and term, which may be higher or lower than your current one depending on the market and your qualifications. Your loan officer will walk through exactly how your new rate compares before you commit.
What can I use the cash for?+
There's no restriction on how you use the funds. Common uses include home improvements, debt consolidation, education expenses, emergency funds, and investment opportunities.
More equity options and related programs
Ready to access your home's equity?
No pressure, no obligation - just a clear answer from a local loan officer.