28 September 2022

No Cash-Out Refinance

A no cash-out refinance is a type of loan used to improve the rate the borrower pays on the loan. It might also shorten the lifetime of a loan to benefit the borrower. In a no cash-out refinance, the borrower refinances an existing mortgage for equal to or less than the outstanding loan balance.

The goal is to lower interest rates on the loan or change certain terms of the mortgage.