Capital Home Mortgage Florida

Florida Cashout Mortgage Refinance

Cashout refinance Mortgage Lender Florida

Cash-Out Refinance Loans In Florida

In Florida, a cash-out refinance loan is a type of mortgage refinancing option in which homeowners acquire a more extensive mortgage that replaces their previous home loan and pocket the difference at closing. In other words, a cash-out refinance allows you to leverage your home equity by replacing your existing mortgage with a higher-value mortgage and obtaining a percentage of your home equity in cash.

For example, suppose you own a $325,000 property in an Orlando suburb with a current mortgage balance of $200,000. Use a cash-out refinance to borrow $250,000, pay off your existing mortgage, and receive $50,000 in cash at closing, less closing expenses. The funds can be used for various purposes, including home improvements, debt consolidation, and other financial requirements.

Please remember that closing costs for cash-out refinance typically vary between 2-6% of the entire loan amount and are deducted from your cash-out at closing. It’s critical to balance the advantages of a cash-out refinance with the costs and prospective modifications in your loan terms or interest rates.

Qualification Requirements of a Cash-Out Refinance

You must meet certain requirements to qualify for a cash-out refinance loan in Florida. These include the following:

  • Home Equity:

Lenders want a particular level of equity in your house, which is commonly calculated using the loan-to-value ratio (LTV). The majority of lenders want an LTV of 80% or less.

  • Credit Score:

Mortgage lenders have different qualifying requirements for cash-out refinancing, but most require at least a 620 credit score. If your credit score is less than 620, consider looking into FHA cash-out refinancing options, which often demand a lower credit score. Most lenders require a credit score of at least 600 for an FHA cash-out refinance.

  • Income:

Your income is vital in qualifying for a cash-out refinance in Florida because lenders want to be sure you can afford the increased payments on the loan.

  • Debt-to-Income Ratio:

Most lenders require a debt-to-income ratio of 43% or less for a cash-out refinance.

  • Home Appraisal:

Lenders might require a new appraisal to verify the value of your home, which assists them in determining the amount of equity in your home and the maximum loan amount they’re willing to grant.

  • On-time Mortgage Payments:

Most lenders require a 12-month on-time payment history for a cash-out refinance.

  • Other Requirements:

Additional requirements, such as loan-level price adjustments based on the LTV ratio and credit score, may apply for loans to be eligible for delivery to Fannie Mae.

Please keep in mind that these requirements may differ based on the lender and the type of loan you select. Consult our mortgage specialist about your individual situation and eligibility for a cash-out refinance in Florida.

Apply for a Cash-Out Refinance Loan with Capital Home Mortgage Florida

We provide a simplified cash-out refinance process, competitive interest rates, and low processing fees at Capital Home Mortgage. We can provide flexible underwriting and faster approvals as a direct mortgage lender since we manage every step of the loan process, including funding. 

Allow our mortgage specialists to assist you in obtaining the financing you require from the equity in your home today. Contact us at (239) 310-5599 for a free quote. We look forward to offering your Florida cash-out refinance loan. 

Why Florida HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Florida Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Florida FHA Cashout Refinance Loans

Cash-Out FHA Mortgage Refinance Lender
  • Appraisal Required
  • Primary Residents Only
  • Max Loan to Value Limits Apply
  • County Loan Limits Apply

Florida VA Cashout Refinance Loans

Cash-Out VA Mortgage Refinance Lender
  • Appraisal Required
  • Primary Residence Only
  • Max Loan to Value Limits Apply
  • Max Loan Limits Apply

Florida Conventional Cashout Refinance Loans

Conventional Cashout Refinance Lender
  • Primary, 2nd & Investment
  • Single & Multi Family
  • Loan to Value Restrictions
  • County Loan Limits Apply

Florida Jumbo Cashout Refinance Loans

Cash-Out Jumbo Mortgage Refinance Lender
  • Up to 3 Million 
  • Primary and 2nd Home
  • Max Loan to Value Limits Apply
  • Investor Approval

Florida Native American Cashout Loans

Cash-Out Native American Mortgage Refinance Lender
  • Appraisal Required
  • Max LTV Cash-out Limits Apply
  • State & County Restriction
  • County Loan Limits 

Florida Reverse Cashout Refinance Loans

Cash-Out Reverse Mortgage Refinance Lender
  • Primary Residence
  • Equity Based Qualifying
  • Credit Scores N/A
  • Minimum Age 62
Florida Mortgage Programs

Florida Home Purchase

Thinking of Buying a Florida Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Florida renovation home loans

Looking to Rehab a Florida Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Florida FHA Home Loans

Great for 1st Time Florida Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Florida VA Home Loans

100% Financing for Florida Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Florida Conventional Home Loans

Flexibility for Florida Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Florida Jumbo Home Loans

Florida Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Florida USDA Home Loans

100% Rural Florida Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Florida Native American Home Loans

Florida HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Florida Manufactured Home Loans

Great Alternative Florida Housing

Florida reverse mortgages

Your Florida Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Florida Non QM Home Loans

Making Florida Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Florida One Time Close Home Loans

Build Your Florida Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Florida Refinance Mortgage Loans

Florida Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Florida Cash-out Home mortgages

Florida Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Florida Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Native American Lending
Manufactured Housing

Florida Mortgage Company Reviews

Florida Cities

Jacksonville Home Loans

Miami Home Loans

Tampa Home Loans

Orlando Home Loans

St Petersburg Home Loans

Port St Lucie Home Loans

Cape Coral Home Loans

Hialeah Home Loans

Tallahassee Home Loans

Fort Lauderdale Home Loans

Pembroke Pines Home Loans

Hollywood Home Loans

Gainesville Home Loans

Miramar Home Loans

Coral Springs Home Loans

Palm Bay Home Loans

Lakeland Home Loans

West Palm Beach Home Loans

Clearwater Home Loans

Miami Gardens Home Loans

Pompano Beach Home Loans

Fort Myers Home Loans

davie Home Loans

Palm Coast Beach Home Loans

Accessibility Toolbar