6.570% APR 

Compare Today's Cash-Out Refinance Rates

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Showing: Refinance, Good (720-739), 30-year fixed, Single family home, Primary residence, cash-out
Showing: Refinance, Good (720-739), 30-year fixed, Single family home, Primary residence, cash-out
License information
4 results:
30-year fixed
NBKC: NMLS#409631
Lowest APR
Lowest monthly payment
Great for first-time home buyers | digital convenience | customer service
Conventional 30-year fixed
NerdWallet rating
Interest rate
Mo. payment
Insurance $0
Total fees
About this lender
Visit lender's website | Call (888) 871-2381
  • Displays customized rates, with fee estimates, without requiring contact information.
  • Efficient customer service over the phone or through online chat.
  • Physical branches are limited to the Kansas City metro area.
Central Bank: NMLS#407985Conventional 30-year fixed
Central Bank
NerdWallet rating
Interest rate
Mo. payment
Insurance $0
Total fees
About this lender
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
Bethpage Federal Credit Union
EXPLORE QUOTEon Bethpage Federal Credit Union
on Bethpage Federal Credit Union
Bethpage Federal Credit Union: NMLS#449104Conventional 30-year fixed
Bethpage Federal Credit Union
Interest rate
Mo. payment
Insurance $0
Total fees
About this lender
  • Has a fully online mortgage application and a highly rated mobile app.
  • Offers financing for co-ops, a type of home that’s common on the East Coast.
  • Interest rates are on the low side, according to the latest federal data.
  • In-person service available only on Long Island, New York.
  • Doesn’t offer renovation, construction-to-permanent or USDA loans.
  • Customized rates not available online.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer service
Conventional 30-year fixed
Rocket Mortgage, LLC
Interest rate
Mo. payment
Insurance $0
Total fees
About this lender
  • Streamlined online process with document and asset retrieval capabilities.
  • Often ranks high in customer satisfaction surveys.
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.

Mortgage rate trends (APR)

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NerdWallet’s mortgage rate insight


30-year fixed-rate

On Saturday, July 13, 2024, the average APR on a 30-year fixed-rate mortgage fell 13 basis points to 6.570%. The average APR on a 15-year fixed-rate mortgage fell 6 basis points to 5.814% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 5 basis points to 7.607%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 39 basis points lower than one week ago and 35 basis points lower than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.

Current mortgage and refinance rates

ProductInterest RateAPR
30-year fixed-rate6.496%6.570%
20-year fixed-rate6.275%6.367%
15-year fixed-rate5.682%5.814%
10-year fixed-rate5.630%5.824%
7-year ARM6.704%7.475%
5-year ARM6.533%7.607%
3-year ARM8.125%8.355%
30-year fixed-rate FHA6.185%7.017%
30-year fixed-rate VA5.759%6.141%

Data source: ©Zillow, Inc. 2006 - 2021. Use is subject to the Terms of Use

A Beginner’s Guide to CASH-OUT Refinancing
Holden Lewis
Last updated on May 2, 2022

What are the current cash-out refinance rates?

NerdWallet’s mortgage rate tool helps you find competitive, customized cash-out refinance rates. In the filters above, click or tap the “Refinance” button under “Loan purpose.” Fill in the rest of the details, making sure to select “Yes” on the “Cash-out” button. In moments, you’ll get a rate quote tailored to meet your needs. From there, you can start the process of getting approved for your cash-out refinance.

What is a cash-out refinance?

A cash-out refinance is a new larger loan replacing your current mortgage. You’ll be borrowing what you owe on your existing loan, plus the cash you take out from your home’s equity.

Your home equity is the difference between the current market value of your house and your mortgage balance. For example, if your home is now worth $300,000 and you owe $200,000, you have $100,000 in equity. Put $40,000 of that in your pocket, and your new loan will be $240,000. Closing costs often may be subtracted from the equity draw, unless you’re bringing cash to closing.

How much cash can I get with a cash-out refinance?

Lenders will typically limit the cash you take out to 80% to 90% of your home equity. An appraisal will be required to nail down your home’s current market value.

What are the requirements for a cash-out refinance?

In order to qualify for a cash-out refinance, you’ll have to meet lender requirements. Each lender will have its own set of criteria, but here are some general expectations:

  • Credit score of at least 620. The best rates are reserved for those with the highest credit scores. 

  • Equity of at least 20%. You need to have built up equity in order to pull it out.

  • Debt-to-income ratio at or below 50%. For most cash-out refinances, your total amount of existing debt (including your mortgage) can’t exceed 50% of your gross monthly income. 

How much does it cost to get a cash-out refinance?

As with any mortgage refinance, you’ll pay closing costs for a cash-out refinance. Closing costs typically range from 2% to 5% of the total mortgage amount — that’s $7,000 to $17,500 on a $350,000 mortgage.

Pros and cons of a cash-out refinance


  • Potentially lower rate. If you’re refinancing in order to lower your interest rate, you could save on your mortgage payments long-term. 

  • Access to cash. If refinancing makes sense for you, a cash-out refinance allows you to access equity and convert it into cash.

  • It’s all one loan. Some borrowers may prefer to only worry about one mortgage payment, rather than managing both a primary mortgage and a home equity loan or home equity line of credit. 


  • Closing costs. Just like with your first mortgage, you’ll be required to pay closing costs of 2% to 5% when you refinance. 

  • New terms. When you refinance, you get a new set of terms in addition to a new rate; essentially, you’re restarting the clock. This could add years to your loan (resulting in extra interest payments) or mean higher monthly payments.

  • Foreclosure risk. Now that you’re taking on a larger mortgage, you risk losing your home if you can’t keep up with the new payments. 

When to consider a cash-out refinance

A cash-out refinance might make sense if you can get a good rate and have a financially sound strategy for using the cash. Since you’re mortgaging your home in order to access the cash, the best uses for cash-out proceeds are home repairs and improvements, which can increase the value of your home and provide a return on your investment. A cash-out refinance is not recommended for financing a vacation or other expenditure that won’t grow your wealth.

Alternatives to a cash-out refinance

A home equity loan or home equity line of credit (HELOC) is a second mortgage that lets you borrow against your home equity. A cash-out refinance typically has a lower interest rate than a home equity loan or HELOC, and refinancing may provide a lower rate than your current mortgage. However, you may end up paying more in fees for a cash-out refinance than you would a home equity loan or HELOC.

More about cash-out refinance:

Alternatives to cash-out refinance:

About the author: Holden is NerdWallet's authority on mortgages and real estate. He has reported on mortgages since 2001, winning multiple awards.

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30-year-fixed refinance rates