Home > Terms > English, UK (UE) > Cash-out refi

Cash-out refi

Refinancing for an amount in excess of the balance on the old loan plus settlement costs. The borrower takes "cash-out" of the transaction. This way of raising cash is usually an alternative to taking out a home equity loan.

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  • Part of Speech: noun
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  • Industry/Domain: Banking
  • Category: Mortgage
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