Turn Home Equity into Cash

Cash-Out Refinance in Nevada: Turning Equity into Cash

Tap into your Nevada home's equity with a cash-out refinance. Access funds for home improvements, debt consolidation, or major expenses while potentially lowering your interest rate.

Example Scenario
Home value: $450,000 • Current mortgage: $250,000 • Available equity: Up to $110,000 cash (80% LTV)
See How Much You Can Get Calculate Equity
Nevada home exterior representing cash-out refinance equity

How Cash-Out Refinancing Works

Replace your existing mortgage with a new, larger loan and pocket the difference in cash

1

Calculate Your Equity

Determine how much equity you have: subtract your current mortgage balance from your home's current market value.

Home Value: $450,000
- Mortgage Balance: $250,000
= Total Equity: $200,000
2

Determine Cash Available

Lenders typically allow you to borrow up to 80% of your home's value (some allow 85-90%). Calculate available cash:

Home Value × 80%: $360,000
- Current Mortgage: $250,000
= Cash Available: $110,000
3

Refinance & Receive Cash

Your new mortgage pays off the old one, and you receive the difference as a lump sum at closing.

New Loan Amount: $360,000
- Pays Off Old Loan: $250,000
= Cash to You: $110,000

Popular Uses for Cash-Out Funds

Home Improvements
Kitchen remodels, additions, pool installation
Debt Consolidation
Pay off high-interest credit cards & loans
Education Expenses
College tuition or student loan payoff
Investment Property
Down payment for rental or second home

Cash-Out Refinance Requirements

Minimum Equity

At least 20% equity remaining after cash-out. Most lenders allow max 80% LTV, meaning you must keep 20% equity in your home.

Credit Score

Minimum 620 for conventional loans. Higher scores (740+) get better rates. FHA cash-out requires 580+ credit score.

Debt-to-Income (DTI)

Max 43-50% DTI depending on lender. Your new mortgage payment + debts must not exceed this percentage of your gross income.

Home Appraisal

New appraisal required to determine current market value. Your available cash depends on appraisal matching or exceeding expected value.

Closing Costs

Expect 2-5% of new loan amount in closing costs (appraisal, title, origination fees). Can sometimes be rolled into loan.

Ownership Time

Typically must own home for 6-12 months before cash-out refi. Some lenders have "seasoning" requirements.

Frequently Asked Questions

Find Out How Much Cash You Can Access

Get a free cash-out refinance analysis. We'll calculate your available equity, compare current rates, and show you exactly how much cash you can receive.

Get My Cash-Out Quote (702) 696-9900

Related Resources:

Refinance Options • Equity Calculator • Closing Costs Guide • DTI Calculator