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Cash Out Refinance

Get approved in as little as 24 hours. Call now!

CALL OR TEXT NOW

778-839-3963

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Simple & Fast Approvals

You can get pre-approved in as little as 24 hours.

Borrow Up To 75% Of Your Home's Value

Loans ranging from $50,000 to $2,000,000

Think Outside The Branch®

Great rates and outstanding customer service.

Your home isn’t just a place to live, it’s a financial asset. If you’ve built equity, a cash out refinance lets you access that wealth without selling. At Your Equity Mortgage, we help BC homeowners convert equity into capital through private lending solutions built for real situations.

A cash out refinance replaces your current mortgage with a larger one. You keep the difference as cash. Fast approval. No traditional bank red tape.

Why Choose Cash Out Refinancing

  • Pay Down Debt Consolidate debt from credit cards and personal loans at mortgage-level rates, not credit card rates. One monthly mortgage payment replaces multiple creditors.
  • Fund Home Renovations – Major upgrades build property value while you build equity. 
  • Cover Unexpected Costs – Medical emergencies, vehicle repairs, or family situations. Get capital when you need it most.
  • Emergency Reserves – Build financial cushion for life’s surprises without relying on credit.

How Cash Out Refinancing Works

Cash out refinancing follows a straightforward process. You refinance your existing mortgage for a larger amount than you currently owe. The difference between your new mortgage loan and your current mortgage balance is paid to you as a lump sum. This amount is based on your home’s equity and the loan to value ratio your lender allows.

Step-by-Step Process

1. Assess Your Home’s Value

We’ll help you determine your home’s current market value through an appraisal. This establishes the foundation for your cash out refinance calculation.

2. Calculate Available Equity

We’ll subtract your current loan balance from your home’s appraised value. Private lenders in BC typically allow you to refinance up to 75% of your home’s market value, in major cities.

3. Determine Cash Available

We’ll calculate 75% of your home’s value, then subtract your existing mortgage balance. The difference is your potential cash out amount.

4. Apply for Your Cash Out Refinance

We’ll help you complete your application. We review your mortgage balance, home’s equity, and property details.

5. Get Approved

Private lenders move quickly. You can receive approval for your cash out refinance in 24 to 48 hours.

6. Close Your Refinance

Legal documents are finalized. Your new mortgage loan pays off the old one, and you receive your lump sum cash proceeds.

    Get Approved Quick and Easy




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      Jeff not only solved all my equity loan issues, he was able to do so quickly, as well as at great terms & rate. Throughout the entire process he... read more

      Restorative Reiki New Westminster
      February 10, 2019

      Jeff is extremely helpful, responsive and transparent in his approach to assisting you with your financial needs. He was always willing to answer question and would present concepts and situations... read more

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      January 9, 2019

      I had done the typical thing and approached Alpine Credits and Capital Direct. Both provided approval relatively quickly and I thought the fees associated with the product was "normal". Thank... read more

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      February 10, 2018

    Reach Out For a Complimentary Assessment

    Ready to explore your options and see if you are the right fit for a cash out refinance? Apply now or call us seven days a week. Your Equity Mortgage connects you with trusted private lenders who move fast and understand BC homeowners. 

    Count on us for honest guidance, transparent pricing, and real, personalized solutions.

    CALL OR TEXT NOW

    778-839-3963

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    Frequently Asked Questions

    You need at least 35% equity remaining after refinancing. Most lenders max out at 75% LTV. If your home is worth $500,000 and you owe $300,000, you have 40% equity. You could refinance up to $375,000 (75% LTV) and access $75,000 in cash out, leaving 25% equity intact.

    If values fell but you’ve paid down your mortgage balance, you may still have accessible equity. We can determine your actual position through a quick assessment.

    A hard inquiry creates a small temporary dip. Your score might drop a few points initially, but recovers within 6-12 months as you make payments. Often it improves faster if you use cash to eliminate credit card debt (better debt-to-income ratio).

    Yes. After your term ends, you can refinance again. Each refinancing involves new costs, so ensure benefits justify it.

    Most private mortgages allow prepayment. Ask about prepayment terms before committing. Some have minimal penalties, others have none.

    No. The cash you receive from refinancing isn’t income, it’s borrowed money. Not taxable. (How you use it might have tax implications though, so consult a tax professional if using proceeds for investments.)

    Fixed rates stay constant. Your monthly payment never changes. Budget certainty. Variable rates fluctuate with market conditions. Usually start lower. Carry uncertainty. Choose based on your comfort with rate changes.

    Private lenders approve based on equity, not credit scores. Expect slightly higher rates, but approval is possible. We work with bad credit situations regularly.

    Application to funding: 7-14 days with private lenders. Approval alone: 24-48 hours. Banks typically take 3-6 weeks.

    Most borrowers add closing costs to the mortgage amount. Avoids large upfront cash requirements. Some prefer paying upfront to reduce total debt. Both options are typically available, we can discuss together to decide on the best option.

    Absolutely. Private lenders understand self-employment. Rather than demanding extensive tax returns, many use stated income approaches. We have clients approved regularly based on their home’s equity.

    You can refinance again when your term ends. If rates drop significantly during your term, some lenders offer rate holds or early refinancing options. We are always here to help and discuss your future options.

    Maybe. Second mortgages preserve your first mortgage rate. HELOCs offer revolving access.  Reverse mortgages work for seniors. We help you evaluate which option truly fits.

    Most terms are fixed (commonly 1 to 5 year). You’re committed to that term and monthly payment. Early exit involves prepayment penalties. Ensure the payment is sustainable before committing.

    Anything. Debt consolidation, home renovations, education, medical expenses, emergencies, investments, vehicles, or other purposes. It’s your equity, you decide.

    No. Private lenders focus on your home’s equity. Credit challenges aren’t disqualifying. You still qualify and can access funds.

    Typically no. Most private lenders cap cash out refinances at 75% LTV. Beyond that, the risk becomes too high.

    A home equity loan is a separate second mortgage behind your existing mortgage term, keeping your current interest rate unchanged. A cash out refinance combines everything into one mortgage refinancing with a single monthly payment and typically lower interest rates. Mortgage refinancing involves legal fees and appraisal costs, while a home equity loan often has other upfront expenses. Choose cash out refinancing for simplicity and better rates; choose a home equity loan if your current interest rate is excellent and you want to preserve it.

    A line of credit HELOC is a revolving line you draw from as needed, paying interest only on what you borrow. A cash out refinance provides one lump sum upfront through mortgage refinancing, giving you all loan proceeds immediately. HELOC rates are typically variable, while cash out refinance rates are usually fixed or variable options. Cash out refinancing offers lower interest rates for substantial amounts; HELOC works better if you want spending power without committing to large loan terms upfront.

    The save money potential depends on your outstanding balance and current interest rates. Consolidating credit card debt at 19.99% into a cash out refinance at 7.5% saves roughly 62% annually in interest costs. Over your repayment period, this compounds substantially—$45,000 in credit card debt saves $470 monthly. Beyond interest savings, cash out refinancing gives you one monthly payment instead of multiple, freeing up spending power in your budget.

    When you refinance, you restart your amortization period, the timeframe over which you pay interest on your mortgage amount. Extending your amortization period lowers monthly payments but you pay more interest over time; shortening it increases payments but saves money on total costs. With cash out refinancing, your new mortgage loan starts fresh with new amortization period options. Calculate the tradeoff with a professional advisor to find the right mortgage balance between monthly payments and total interest costs.

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