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Best Cash-Out Refi Lenders of 2019

July 21, 2017
Finding the Right Mortgage, Mortgages
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.
NerdWallet offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent. We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers.

A cash-out refinance could be right for you if you need money for home repairs or renovations, or if you want to consolidate high-interest debt. The process involves refinancing your home for more than you owe on the existing mortgage. You get the difference to use on whatever you need. It can be a helpful way to tap your home’s equity for major expenses.

Your options for cash-out refinance lenders are extensive, from all-digital outfits with speedy online applications to major banks with branches nationwide for in-person service.

To help you narrow down your choices, NerdWallet has picked some of the best cash-out refinance lenders in several categories so you can quickly determine the right one for you.

Best cash-out refi lenders for online mortgage experience

If you want to handle the entire cash-out refi process online, these lenders offer easy online applications and web portals. 

Rocket Mortgage
4.5 NerdWallet rating
  • The largest online mortgage lender in the U.S.
  • Automated online application that imports employment and income data, credit scores, property info and more
  • Gives a cash-out refi decision in minutes
  • Rocket Mortgage review
4.0 NerdWallet rating
  • Charges no origination fees or broker commissions on refinance loans
  • Fully automated online cash-out refi experience
  • Shorter loan process than with traditional lenders, including a decision within hours
  • Lenda review

Best cash-out refi lenders for government programs

If you want to refinance a VA, FHA or U.S. Department of Agriculture mortgage, these highly rated lenders specialize in government programs. 

4.5 NerdWallet rating
  • Offers full array of government mortgage programs, including FHA, VA, USDA
  • Has a “no steering policy” requiring their loan officers to help you pick the best product for you, not them
  • “Lifetime Guarantee” refinance program waives lender fees and reimburses appraisal costs for repeat customers
  • LoanDepot review
4.5 NerdWallet rating
  • Specializes in VA loans and offers VA cash-out refinancing
  • Focuses on serving active-duty military and veteran borrowers
  • Earns top customer satisfaction ratings based on low number of complaints to Consumer Financial Protection Bureau
  • Veterans United review

Best cash-out refinance lenders for customer service

If your priority is top-notch customer service, one of these lenders could be ideal for you. 

suntrust mortgage
4.0 NerdWallet rating
  • Flexible closing-cost options for refinancing
  • Offers assistance at every point during the mortgage process
  • Provides customer service in physical locations, online and via chat or phone
  • SunTrust Mortgage review
4.5 NerdWallet rating
  • Offers a completely digital mortgage platform for cash-out refis
  • Has hundreds of high marks and positive reviews on sites such as the Better Business Bureau, Yelp and LendingTree
  • Boasts a more than a 95% customer satisfaction rate
  • Guaranteed Rate review

Best traditional bank cash-out refi lenders

Consider these institutions if you prefer to get your cash-out refinance with a well-known name that’s likely to have a branch near you.

3.5 NerdWallet rating
  • Provides a large variety of refinance options
  • Offers fixed, adjustable, jumbo, FHA, VA and Home Affordable Refinance Program loans
  • Start your cash-out refi online, by phone or in a branch
  • Chase Mortgage review
4.0 NerdWallet rating
  • Offers a range of refinancing loans, including fixed, adjustable, jumbo, FHA and VA
  • Start your cash-out refi by prequalifying online in minutes, by phone or in a branch
  • Existing bank customers may qualify for a discount on origination fees
  • Bank of America review

Best credit union lenders for cash-out refis

If a big bank or online lender isn’t for you, consider joining and refinancing through one of these credit unions.

3.0 NerdWallet rating
  • A national lender with nine branch locations in four states
  • Apply for your cash-out refi online, by phone or in a branch
  • Offers a variety of fixed-rate and adjustable-rate mortgage products
  • Connexus Credit Union review
3.5 NerdWallet rating
  • A smaller lender that offers more personalized service than big banks
  • Permits refinancing for homeowners who have only 5% equity
  • You can begin your cash-out refi application online, by phone or in a branch
  • Alliant review

Best cash-out refi mortgage lenders: Summary

Best cash-out refi mortgage lenders: Detail

Lender
Best
for
Highlights
Minimum credit score*
Get started
Rocket Mortgage
Online refinance
Simple and fast online application that imports required data
620
Lenda
lenda_logo
Online refinance
Fully automated online cash-out refi experience
620
LoanDepot
loandepotlogo-270x55
Refinance with government programs
Offers FHA, VA, USDA loans, with repeat customer fee waiver
620
Veterans United
Veterans-United-55x270
Refinance with government programs
Specializes in VA loans and offers VA cash-out refinancing
620
SunTrust
SunTrust Private Student Loan Review
Customer service when refinancing
Customer assistance available throughout process
620
Guaranteed Rate
guaranteedrate_logo_transparent
Customer service when refinancing
Completely digital mortgage platform for cash-out refis; >95% customer satisfaction rate
620
Chase Mortgage
Chase-logo
Refinance with traditional lender
Services all 50 states, with offices in 22 states
620
Bank of America
Bank-Of-America-Logo
Refinance with traditional lender
Prequalify for cash-out refi online in minutes, by phone or in a branch
620
Connexus Credit Union
connexus_270x55
Refinance with credit union
No-hassle mortgage comparison available
600
Alliant Credit Union
alliant-logo-55x270
Refinance with credit union
More personalized service; one of the leading digital-first credit unions
Not disclosed

More from NerdWallet
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Cash-out refinance pros and cons

* Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standards

NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.