U.S. homeowners collectively hold more than $35 trillion in home equity, making it one of the largest sources of household wealth. Yet that equity doesn't become liquid until you act on it, for example through a cash-out refinance.
Equity doesn't become liquid until you act on it.
Nearly half of U.S. homeowners are "equity rich," meaning they owe no more than half their home's value. That position creates strong refinancing potential.
A cash-out refinance lets you convert part of that built-up value into cash for meaningful financial goals, from paying off debt to funding home improvements, starting a business or building a safety net.
Equity is wealth you've already built, and a cash-out refinance is one way to put part of it to work.
As long as you keep a comfortable equity cushion, it can be a strategic way to balance long-term wealth with short-term needs.
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A loan officer can estimate how much equity you could access while keeping a comfortable cushion, and what the new payment would look like. Pre-qualifying will not affect your credit score.
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