Cash-Out Refinance

A cash-out refinance replaces your existing mortgage with a new, larger loan — the difference between the new loan and the old balance is paid to you in cash at closing. If you owe $300,000 on a home worth $600,000 and refinance into a $400,000 loan, you walk away with $100,000 (minus closing costs).

Cash-out refinances have clean use-of-proceeds rules, longer repayment terms than a HELOC, and generally lower rates. They're popular for debt consolidation, renovations, investment capital, and for homeowners with significant appreciated equity.

Why it matters for Milo customers

Milo offers cash-out refinance on investment properties using DSCR (cash flow) qualification — useful for crypto-wealthy investors who want to pull equity out without selling crypto or proving traditional income.

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