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Best Cash Out Refinance Lenders for 2023

Cash out refinance gets the funds you need. Convert home equity into cash. Choose one of our top cash out refinance lenders below.



  • Low rates for cash out refinance. Get a custom quote in 3 minutes. 
  • A+ BBB rating. Over 20 years experience. 

Rocket Mortgage

  • Competitive rates for a cash out refinance. Instant online application.
  • Access to a team of cash out refinance specialists.

Quicken Loans

  • Low interest rates for a cash out refinance. Quick approval process done online.
  • Free quote and easy application process.

New American Funding

  • Competitive rates for a cash out refinance from family owned lender.
  • A+ BBB rating with over 100K positive online reviews. 

Find the Right Cash Out Refinance Option For You

A cash out refinance is a type of mortgage refinancing where you borrow more than what you currently owe on your home and receive the difference in cash. This can be a great way to access the equity in your home to make renovations, pay off high-interest debt, or fund other major expenses.

However, it's important to choose the right cash out refinance option for your specific needs and financial situation. Factors to consider include the interest rate, loan term, closing costs, and lender requirements. It's also important to have a clear understanding of your financial goals and how a cash out refinance fits into your overall financial plan

When you’re researching and comparing your cash out refinance options, make sure to consider the best companies for you. To help you get started, we’ve compiled a list of the top-rated cash out refinance companies. With this guide, you can easily see which lender has the perfect offer for you.

All of our picks are reliable and have satisfied clients, so you can feel confident that your loan is in good hands. Check out our list and get ready to find the right lender for you!

Our Top Cash Out Refinance Sites


Overall lowest cash out refinance interest rates: AmeriSave


Most cash out refinance product varieties: Rocket Mortgage


Great cash out refinance options and rates: Quicken Loans


Top cash out refinance customer service: New American Funding

Our Top Reverse Mortgage Sites


Overall lowest cash out refinance interest ratesAmeriSave


Most cash out refinance product varieties: Rocket Mortgage


Great cash out refinance options and rates: Quicken Loans


Top cash out refinance customer service: New American Funding

1. AmeriSave: Overall Lowest Cash Out Refinance Interest Rates


  • Lowest interest rates on our list
  • Informative website with lots of resources
  • Wide range of loan options


  • No branch retail locations
  • No personal buyer education

AmeriSave Mortgage Corporation, established in 2002, is a direct lender that has financed billions of dollars in purchase and refinance loans. Its objective is to provide a simple and stress-free loan process by offering clear pricing and a user-friendly online application platform.

AmeriSave offers a complete range of reasonably priced mortgage solutions and has gained a favorable reputation among its clients. If you are interested in purchasing a home, obtaining a lower mortgage rate, or accessing your home equity, AmeriSave may be a suitable option to consider.

2. Rocket Mortgage: Most Cash Out Refinance Product Varieties


  • Wide product variety
  • Streamlined online application
  • Great customer service


  • No in-person service
  • Have affiliate brokers available

Rocket Mortgage has consistently secured a top 3 ranking in the J.D. Power U.S Primary Mortgage Origination Satisfaction Study for eight years in a row. The company offers the flexibility to apply for a mortgage refinance either online or by phone with the assistance of one of their home loan experts. Moreover, homeowners can also receive in-person help from an independent mortgage broker who is affiliated with Rocket.

Rocket Mortgage provides multiple refinance options, including Fannie Mae’s RefiNow and Freddie Mac’s Refi Possible, which cater to homeowners with a debt-to-income ratio of up to 65% who currently have a mortgage with either of these government-sponsored enterprises. If eligible, homeowners can benefit from a reduction of at least 0.5% of their interest rate and can also apply for a grant of up to $500 to cover appraisal costs. To qualify, applicants must have a FICO credit score of 620 or higher, a good payment history, and at least 3% equity in a one-unit primary residence.

3. Quicken Loans: Great Cash Out Refinance Options and Rates


  • Competitive interest rates
  • A lot of good resources on website
  • Easy digital application process


  • No branch locations
  • No HELOC loans

Known as a major player in the mortgage industry, Quicken Loans was established in 1985 and made headlines in February 2018 when it became the biggest residential mortgage lender in the United States, with a total loan volume of $83.4 billion. Based in Detroit, the company has helped over two million American families obtain mortgages.

Quicken Loans is the most extensive online retail mortgage lender, as reported by National Mortgage News, and is owned by Rock Holdings, Inc. The company specializes solely in mortgages and loans, offering an array of mortgage products, such as fixed-rate mortgages, adjustable-rate mortgages, FHA loans, VA loans, and jumbo loans. The "YOURgage" feature also allows borrowers to personalize their loan terms. However, Quicken Loans does not provide any banking, investment, or other financial services.

4. New American Funding: Top Cash Out Refinance Customer Service


  • Great customer reviews
  • Comprehensive website
  • Specialty is in cash out refinance


  • Not all loans advertised on website
  • Application process is not instant

With headquarters located in Orange County, California, and over 170 branches throughout the United States, New American Funding is dedicated to "serving the underserved," as stated on its website. The lender is committed to providing $25 billion in loans to Hispanic borrowers by 2024 and $20 billion in loans to Black borrowers by 2028. One of its notable offerings is the "I CAN Mortgage" program, which enables borrowers to select any repayment period between eight and 30 years. New American Funding also provides loans that are not advertised on its website, such as jumbo loans and non-qualified mortgages (non-QM).

In February 2023, New American Funding unveiled its Pathway to Homeownership program, which offers qualified borrowers in specified regions direct assistance of up to $8,000 without having to repay the loan.

More Information

What is Cash Out Refinance?

A cash out refinance is a type of mortgage refinancing in which the borrower takes out a new mortgage that is larger than their existing one, and then receives the difference between the two loans in cash. Essentially, the borrower is borrowing against the equity they have built up in their home.

This type of refinancing can be beneficial if the borrower needs access to a large sum of money for a major expense, such as home renovations or paying off high-interest debt. However, it can also increase the borrower's overall debt and monthly mortgage payments, so careful consideration and financial planning are necessary before pursuing a cash out refinance.

How Does Cash Out Refinance Work?

A cash out refinance works by allowing a homeowner to refinance their mortgage for a larger amount than what they currently owe, and then receive the difference in cash. For example, if a homeowner owes $100,000 on their mortgage, but their home is now worth $150,000, they may be able to refinance their mortgage for $125,000 and receive the remaining $25,000 in cash.

This cash can be used for a variety of purposes, such as home renovations, paying off high-interest debt, or investing in other ventures. However, it's important to note that a cash out refinance typically comes with a higher interest rate than a traditional mortgage refinance, and the borrower may also be required to pay closing costs and other fees. Additionally, the borrower will have a larger mortgage balance and higher monthly payments, so careful consideration and financial planning are necessary before pursuing a cash out refinance.

How Long Does It Take to Get Money From a Cash Out Refinance?

The timeline for receiving money from a cash-out refinance after closing can vary depending on a few factors. Typically, the loan funding process takes around 3-5 business days after the closing of the refinance. Once the lender confirms the new loan amount and pays off the existing mortgage, any remaining funds from the cash-out refinance will be dispersed to the borrower.

This process may take an additional few days to a week, depending on the lender and how they handle disbursements. It's important to note that some lenders may offer the option to receive funds via wire transfer or check, while others may deposit the funds directly into the borrower's bank account. Overall, the process of receiving money from a cash-out refinance after closing can take anywhere from 1-2 weeks, but it's best to consult with the lender to get an accurate estimate based on their specific policies and procedures.

How To Find The Best Cash Out Refinance Companies?

When searching for the best cash out refinance companies, it's important to consider several factors to ensure that you're getting the best deal and service possible. Firstly, do your research and check the company's reputation and track record, including their customer reviews and ratings. Look for companies that are reputable, licensed, and experienced in providing cash out refinancing services. It's also important to compare interest rates, fees, and loan terms from multiple lenders to find the most competitive offer.

Ask questions about the lender's process, requirements, and fees, and make sure that you fully understand the terms and conditions of the loan before signing any documents. Additionally, consider working with a mortgage broker who can help you compare multiple lenders and find the best cash out refinance option based on your financial goals and needs. Overall, finding the best cash-out refinance company involves doing your research, comparing options, and working with professionals who can guide you through the process.

Is a Cash Out Refinance Right for You?

Determining whether a cash out refinance is right for you depends on your financial situation and goals. A cash out refinance can be a good option if you need access to a large amount of cash and have built up equity in your home. It can also be a good option if you can secure a lower interest rate than your current mortgage or if you need to consolidate high-interest debt. However, a cash out refinance typically comes with higher interest rates and fees, and it can increase your overall debt and monthly payments.

It's important to consider the long-term impact of a cash-out refinance on your finances and budget. Before pursuing a cash out refinance, make sure that you have a clear understanding of the costs, benefits, and risks, and consider working with a financial professional to help you make an informed decision. Ultimately, whether a cash-out refinance is right for you depends on your specific financial situation, goals, and priorities.

Pros and Cons of a Cash Out Refinance

A cash out refinance has both advantages and disadvantages. One of the main advantages is that it can provide access to a significant amount of cash that can be used for various purposes, such as home renovations, paying off high-interest debt, or investing in other ventures. Additionally, a cash out refinance may offer a lower interest rate than other forms of borrowing, such as personal loans or credit cards, making it a more affordable option.

On the other hand, a cash-out refinance can also have some downsides. It can increase your overall debt and monthly payments, making it more difficult to pay off your mortgage and achieve financial freedom. Additionally, a cash-out refinance may come with higher fees and closing costs, which can add to the overall cost of the loan. Ultimately, whether a cash out refinance is a good choice for you depends on your unique financial situation, goals, and priorities. It's important to carefully consider the pros and cons before making a decision.