Cash-out refi example Let’s say you still owe $100,000 on your home, and it’s currently worth $400,000. That means you have $300,000 in equity. For a cash-out refinance, you’re typically ...

The average refinance rate for a 30-year mortgage loan is now 6.70%, meaning that many homeowners would have to take on a new, higher mortgage rate to secure their cash-out refinance.