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• When refinancing, taking a loan for more than you owe on your existing mortgage. Your existing mortgage is paid off and you receive an additional payment for the balance of the new loan. You might do this if you want to make home improvements or pay for a child's education. Cash-out refinancing removes some of the equity you have built up in your home.

  The Federal Reserve Board - Cite This Source - This Definition
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  Cite Definition for cash-out refinancing

  American Psychological Association (APA)

  cash-out refinancing. (n.d.). A Consumer's Guide to Mortgage Refinancings. Retrieved May 29, 2023, from website: http://www.expertglossary.com/definition/cash-out-refinancing.

  Chicago Manual of Style (CMS)

  cash-out refinancing. www.federalreserve.gov. A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. http://www.expertglossary.com/definition/cash-out-refinancing (accessed: May 29, 2023).

  Modern Language Association (MLA)

  "cash-out refinancing." A Consumer's Guide to Mortgage Refinancings. The Federal Reserve Board. 29 May. 2023 http://www.expertglossary.com/definition/cash-out-refinancing.

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