Kate Wood
Johanna Arnone
Jeanette Margle
This service is free and will not affect your credit score.
Best for military borrowers
NMLS#399807
Undisclosed
National
Our take on Navy Federal
Navy Federal is known for VA lending, and it's a big cash-out refinance lender by volume. You'll need a military connection to join the credit union.
Best for North Carolina borrowers
Our take on State Employees' Credit Union
State Employees’ Credit Union in North Carolina is worth checking out for those who meet its membership criteria — especially its low cash-out refinance rates and fees. But cash-out refi makes up a somewhat small share of SECU's total home loans, and it doesn’t offer government-backed mortgages.
Best for rate transparency
Our take on Andrews Federal Credit Union
Andrews Federal Credit Union is on the smaller side, but offers big value through low cash-out refinancing rates and fast closings. Its online rate quote tool is exceptionally informative.
Best for making cash-out refis widely accessible
Our take on Bank of America
Bank of America offers standard big-bank benefits: loan variety, nationwide branches and a mobile app. It’s a solid pick for existing banking customers, and cash-out refi rate shoppers.
Best for low APRs for cash-out refis
Our take on USAA
USAA has low average cash-out refi rates and fees and is a top VA loan lenders by volume, though conventional loans are available, too. USAA membership is open only to current and former military and eligible family members.
Best for low APRs for cash-out refis
Our take on Flagstar
With expertise in the loan type and low average rates and fees for cash-out refinances, Flagstar is an appealing option. But take note that Flagstar has changed its mortgage business as part of corporate restructuring
Best for cash-out refinancing overall
Our take on Wells Fargo
Wells Fargo is a big player in cash-out refinancing. Its rate shopping tool makes cost comparisons easy, and its cash-out refinancing APRs are competitive among large banks.
Best for low APRs for cash-out refis
Our take on NBKC
NBKC stands out for its attractive cash-out interest rates and fees. While NBKC is primarily an online lender, its app does not have mortgage features and chat support is not geared toward mortgage borrowers.
Best for making cash-out refis widely accessible
Our take on Truist
Truist offers a solid combo of rates and fees, and is a big player in the cash-out refinance market. Preapproval and customer care happen mostly offline, and for custom rates you'll need to talk to a person.
Best for strong market share for cash-out refinance
Our take on Chase
Chase is a market leader in cash-out refinances, and the bank has an above-average reputation for consumer satisfaction, but you'll need to create an account or speak to a rep before applying.
Best for rate transparency
Our take on PNC Bank
PNC Bank has a wide selection of loans and a streamlined digital experience. It's a pretty big player in the cash-out refinance market, but this loan type does not represent a large share of the bank's overall home lending.
Best for easy-to-join credit union
Our take on PenFed
Anyone can join PenFed Credit Union, which boasts lower-than-average cash-out refinance rates and deep familiarity with VA loans.
40+
Lenders reviewed
8
Categories assessed
11,000+
Data points analyzed
Home Value | Remaining Mortgage Balance | Home Equity
(Subtract Mortgage Balance from Home Value) | Max Borrowing Limit |
$400,000 | $100,000 | $300,000 | (0.8 x $400,000) - $100,000 = $220,000 |
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