West Palm Beach Cash-Out Refinance – Tap Your Home’s Equity
With home values in West Palm Beach at record highs, a cash-out refinance lets you turn your equity into cash in hand—for renovations, debt payoff, education, or new investments. Replace your current mortgage with a larger one and receive the difference at closing—simple, fast, and tailored to your financial goals.
What Is a Cash-Out Refinance?
A cash-out refinance replaces your current mortgage with a new, larger loan—letting you access some of your built-up equity as cash. For example, if you owe $200,000 on your home worth $400,000, you might refinance to a $300,000 loan and get $100,000 at closing. Many West Palm Beach homeowners use this strategy to fund home improvements, pay off high-interest debt, or invest in additional property.
Why Homeowners Choose Cash-Out Refinancing
- Home renovations and repairs
- Consolidating high-interest credit card or personal debt
- Paying for college tuition or large expenses
- Investing in more real estate or business opportunities
- Lower overall interest rates versus unsecured loans
- One consolidated monthly payment
- Possible tax-deductible mortgage interest (consult a tax advisor)
How Much Cash Can You Access?
In most cases, you can borrow up to 80% of your home’s value minus what you owe—so you keep at least 20% equity. You’ll need enough equity, decent credit, and proof you can afford the new payment. Our team will walk you through the numbers and check your eligibility for a conventional, FHA, or even a VA cash-out refinance.
Take Advantage of West Palm Beach’s Rising Home Values
West Palm Beach home prices have surged in recent years, creating significant equity for many owners. As values increase, you may qualify to tap more cash than you think. Our experts account for changes in property taxes or insurance and ensure you see how your payment may adjust—giving you a complete financial picture.
Use our
home equity calculator to estimate your available cash.
CTC’s Cash-Out Expertise for Palm Beach County
Comprehensive Analysis
We provide a custom cash-out report so you understand the impact on your budget and financial goals.
Low Refinance Rates
Shop the latest programs for conventional, FHA, or VA cash-out loans.
Fast Closings
Get your funds quickly—often in as little as 30–45 days
Flexible Solutions
No-closing-cost options and the ability to roll fees into your new loan.
Local Guidance
Our team understands Florida’s homestead laws and will show you if a HELOC or a cash-out refi is your best option.
Trusted Advisors
Transparent advice—if a cash-out isn’t the best fit, we’ll recommend a smarter solution.
Cash-Out Refinance FAQ – West Palm Beach
Frequently Asked Questions
How much cash can I get from a refinance?
Most homeowners can borrow up to 80% of their home’s value, minus what’s owed. (For example, on a $500,000 home with a $250,000 balance, you could potentially access up to $150,000.)
Will my interest rate increase with a cash-out refi?
It depends—if rates are higher than your current loan, your new rate may be higher. A cash-out refi also typically has a small rate premium versus a standard refi.
What are the costs of a cash-out refinance?
Closing costs are generally 2–5% of the loan amount, but they can usually be rolled into your new loan—no upfront payment required.
How long does it take to get my cash?
Most refinances close in about 30–45 days. After closing, there’s a 3-day waiting period before funds are released for owner-occupied homes.
Can I refinance if I have lower credit or a recent forbearance?
Yes—while rates and approvals are based on credit, CTC has options for borrowers down to the low 600s, and we can guide you if you had COVID forbearance or recent life events.
Find Out How Much Cash You Can Unlock
Ready to see your options? Contact our West Palm Beach cash-out team for a free equity assessment and personalized quote. Put your home’s value to work—secure the cash you need for your next step.