Access your home equity for renovations, debt consolidation, education, or other financial goals — in one fixed monthly payment.
What it is
A cash-out refinance replaces your current mortgage with a larger one and gives you the difference in cash at closing. You keep one mortgage payment, often at a rate lower than credit cards or personal loans, while putting your home equity to work.
The most common uses: home improvements (which can also raise property value), consolidating high-interest debt, funding college, or starting a business. Andrew Kashella helps Florida homeowners model the math — new payment, total interest, payoff timeline — before you decide.
Who it's for
A few signs this program might be a strong fit. Even if you don't see yourself in this list, reach out — Andrew works with over 100 lenders and there's likely an option that fits.
Key Features
Receive the difference between your old loan and new loan in cash at closing.
Mortgage rates are typically far below credit-card or personal-loan rates.
Interest may be deductible if used for home improvements (consult your tax advisor).
Veterans can refinance up to 100% LTV with a VA cash-out refinance in some cases.
Renovations, debt consolidation, college, business — you decide.
Closing typically happens within 30–45 days.
Frequently Asked
Most conventional cash-out refinances require you to keep at least 20% equity after the cash-out (so an 80% LTV cap). FHA cash-out goes up to 80% LTV. VA cash-out can go up to 100% LTV in qualifying cases.
Slightly — usually 0.125%–0.5% higher than rate-and-term refinances because cash-out loans carry more risk. Andrew can quote both side-by-side.
If the cash is used to buy, build, or substantially improve the home, interest is generally deductible. Used for other purposes (debt payoff, college), it generally is not. Always confirm with your CPA.
Yes, but expect a higher rate and tighter LTV (usually 70–75% max).
Andrew Kashella is here to help you compare options, understand the numbers, and figure out if this program is the right fit for your situation.
Andrew Kashella — NMLS #139171 | Innovative Mortgage Services, Inc. — NMLS #250769
Loan programs are subject to borrower qualification, credit approval, and property eligibility. Not all applicants will qualify. Additional terms and conditions may apply. Interest rates and loan programs are subject to change without notice. This is not a commitment to lend or extend credit.