Cash-out refinance

Unlock your financing options with a cash-out refinance

A personalized rate quote takes just a few minutes and won’t affect your credit score

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Access the equity in your home and accomplish your goals

Renovate your home

Increase your home’s value with home improvements like a new kitchen or floors.

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Cover large expenses

Pay for big expenses like college tuition or your dream wedding.

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Consolidate debt

Save money on interest and pay off credit cards or other high interest debt

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Learn about your home’s value

As a Wells Fargo customer, get exclusive access to track your home’s estimated value and explore opportunities for improvement. You’ll find the tools and insights you need as you look to assess or increase your home’s value.

Refinancing FAQs

Refinancing your mortgage may have several potential benefits. It could reduce your monthly principal and interest payment, or it could help you pay off your mortgage faster. You'll want to review any costs associated with refinancing, as well as the new interest rate of your loan to determine if a refinance might make sense for you.

With a cash-out refinance, you need to weigh the benefit of how you’re going to use the money against the amount of time it will take to pay off the loan. You may want to think about: the number of years until the end of your current loan, term of the new loan, current interest rates, monthly payment amount, total cost of borrowing, and your breakeven point.

If you have equity in your home you may be able to get a cash-out refinance, which will allow you to use the equity you’ve earned to pay off debt or fund home improvements.

Yes, just like with your first mortgage, cash out refinances will include closing costs. Closing costs include fees paid to third parties such as appraiser, the title company and other closing expenses. Closing costs are normally based on a percentage of the loan amount.

Appraisals are normally required for a refinance. Talk to a mortgage consultant to learn more about refinancing.

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Using a cash-out refinance to consolidate debt increases your mortgage debt, reduces equity, and extends the term on shorter-term debt and secures such debts with your home. The relative benefits you receive from debt consolidation will vary depending on your individual circumstances. You should consider that debt consolidation may increase the total number of monthly payments and the total amount paid over the term of the loan. To enjoy the benefits of debt consolidation, you should not carry new credit card or high interest rate debt. By refinancing your existing mortgage, your total finance charges may be higher over the life of the loan.

If you extend your loan term, you may pay more interest over the life of your loan.

If you are a service member on active duty, an eligible spouse, partner, or dependent, or currently receiving SCRA benefits, please consult with your legal advisor prior to seeking a refinance of your existing mortgage loan. In some cases, a refinance may impact your eligibility for benefits under the Servicemembers Civil Relief Act or applicable state law.

Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A.