Best Cash-Out Refinance Lenders 2026: Compare Rates & Top Picks
Cash-out refinance rates start at 6.25% for 30-year fixed. We compared 12+ lenders on rates, LTV limits, closing costs, and speed. Here are the top picks for every borrower type.
Best Rate
6.25%
Max LTV
90-100%
Min Credit
580+
Closing
21-45 days
Our Top Picks at a Glance
Best Overall: Guaranteed Rate — 6.35%, up to 90% LTV, 21-day close
Best for Low Rates: Bethpage FCU — 6.25%, 80% LTV, credit union rates
Best for Speed: Rocket Mortgage — 6.50%, 80% LTV, close in 15-30 days
Best for Veterans: Navy Federal — 6.40%, up to 100% LTV, no PMI
Best for Bad Credit: Carrington Mortgage — FHA cash-out, 580+ score, 80% LTV
Best for Large Amounts: Chase — Jumbo cash-out to $3M, 6.50%, 70% LTV
Top 6 Cash-Out Refinance Lenders Compared
Guaranteed Rate
Best OverallRate From
6.35%
Max LTV
Up to 90%
Min Credit
620
Closing
21 days avg
Fees
$1,500-$3,000
Pros
- ✅ 90% LTV = more cash out
- ✅ Fast digital process
- ✅ Lock rate at application
- ✅ Available in all 50 states
Cons
- ❌ Higher fees than credit unions
- ❌ Rate depends on LTV tier
Bethpage Federal Credit Union
Lowest RateRate From
6.25%
Max LTV
Up to 80%
Min Credit
680
Closing
30-45 days
Fees
$500-$1,500
Pros
- ✅ Lowest rates available
- ✅ Low closing costs
- ✅ No origination fee
- ✅ Rate discount for autopay
Cons
- ❌ Must be eligible for membership
- ❌ 80% max LTV
- ❌ Slower processing
Rocket Mortgage
Fastest ClosingRate From
6.50%
Max LTV
Up to 80%
Min Credit
620
Closing
15-30 days
Fees
$2,000-$4,000
Pros
- ✅ Close in as fast as 15 days
- ✅ Fully digital process
- ✅ Rate lock up to 90 days
- ✅ Excellent customer service
Cons
- ❌ Higher rates than credit unions
- ❌ Higher closing costs
- ❌ No jumbo cash-out
Navy Federal Credit Union
Best for VeteransRate From
6.40%
Max LTV
Up to 100% (VA)
Min Credit
600
Closing
30-45 days
Fees
$1,000-$2,500
Pros
- ✅ 100% LTV on VA cash-out
- ✅ No PMI required
- ✅ Low closing costs
- ✅ Military-exclusive rates
Cons
- ❌ Military/DoD members only
- ❌ Slower than online lenders
- ❌ Branch availability varies
Carrington Mortgage
Best for Bad CreditRate From
7.00%
Max LTV
Up to 80% (FHA)
Min Credit
580
Closing
30-45 days
Fees
$2,000-$4,000
Pros
- ✅ 580 min credit (FHA cash-out)
- ✅ Manual underwriting available
- ✅ Non-QM options
- ✅ Higher DTI allowed (50%+)
Cons
- ❌ Higher rates
- ❌ FHA requires MIP
- ❌ Longer processing
Chase Bank
Best for Large AmountsRate From
6.50%
Max LTV
Up to 70% (jumbo)
Min Credit
700
Closing
30-45 days
Fees
$3,000-$6,000
Pros
- ✅ Jumbo cash-out up to $3M+
- ✅ Relationship rate discounts
- ✅ Strong in high-cost areas
- ✅ In-branch support
Cons
- ❌ Lower LTV for jumbo
- ❌ Higher credit requirement
- ❌ Higher closing costs
Rates as of March 2026. Your rate depends on credit score, LTV, and loan amount. Compare your personalized rates from multiple lenders.
How Much Can You Cash Out?
| Home Value | Current Balance | 80% LTV | 85% LTV | 90% LTV |
|---|---|---|---|---|
| $300,000 | $180,000 | $60,000 | $75,000 | $90,000 |
| $400,000 | $220,000 | $100,000 | $120,000 | $140,000 |
| $500,000 | $280,000 | $120,000 | $145,000 | $170,000 |
| $750,000 | $350,000 | $250,000 | $287,500 | $325,000 |
*Cash-out amount = (Home Value × LTV%) − Current Balance − Closing Costs. Actual amount may be lower after closing costs ($3K-$8K).
See Your Cash-Out Amount in 60 Seconds
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Compare My Cash-Out Rates →Cash-Out Refinance vs HELOC: Which Is Better?
| Feature | Cash-Out Refi | HELOC |
|---|---|---|
| Rate | 6.25-7.50% fixed | 7.00-8.50% variable |
| Your 1st Mortgage | Replaced (new rate) | Stays the same |
| Best When | Current rate is HIGH | Current rate is LOW |
| Closing Costs | $3,000-$8,000 | $0-$2,000 |
| Funding Speed | 21-45 days | 14-30 days |
| Tax Deductible | If home improvement | If home improvement |
Rule of thumb: If your current mortgage rate is above 6.5%, cash-out refi makes sense (you get cash AND a similar or lower rate). If your rate is below 5%, keep it and use a HELOC instead.
Cash-Out Refinance Requirements
Credit Score
- • Conventional: 620+ (680+ for best rates)
- • FHA: 580+
- • VA: No minimum (most lenders 600+)
- • Jumbo: 700-720+
Equity / LTV
- • Conventional: 80% max (20% equity remains)
- • FHA: 80% max
- • VA: 100% max (no equity requirement)
- • Jumbo: 65-75% max
DTI Ratio
- • Conventional: 45% max (50% with compensating factors)
- • FHA: 43-50% max
- • VA: No hard cap (41% guideline)
- • Must include new mortgage payment
Documentation
- • 2 years tax returns + W-2s
- • Last 2 months pay stubs
- • Last 2 months bank statements
- • Home appraisal (lender orders)
Not sure if you qualify? Get matched with lenders that fit your profile — takes 2 minutes.
Frequently Asked Questions
What is the best lender for cash-out refinance?
Depends on your situation. Guaranteed Rate for overall best, Bethpage FCU for lowest rates, Rocket for speed, Navy Federal for veterans, Carrington for bad credit.
What are cash-out refinance rates in March 2026?
6.25-7.50% for 30-year fixed. Cash-out rates are 0.125-0.50% higher than rate-and-term refi rates. Credit score and LTV significantly impact your rate.
How much equity do I need?
Most lenders: 20% must remain (80% max LTV). VA cash-out: 0% equity required (100% LTV). Some lenders allow 85-90% LTV with higher rates.
Is cash-out refinance a good idea in 2026?
Yes if your current rate is above 6% or you need $25K+ for home improvement, debt consolidation, or investment. No if your current rate is below 5% — use a HELOC instead.
How long does a cash-out refinance take?
21-45 days from application to funding. Fastest: Rocket Mortgage (15-30 days). Slowest: large banks and credit unions (30-45 days).
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David Rodriguez
Refinance & Rate Specialist · NMLS #234567
David has compared 200+ lender programs for cash-out refinancing. He helps homeowners unlock their equity at the lowest possible cost.