Cash-out refinance

When home owners apply for refinance loan in an amount that exceeds the current balance with the purpose of paying off their present loan and pocketing the difference.

Cash-out refinancing lets you take advantage of the equity that you've built over the years.

See Also:	Refinance
Compare To:	Home equity loan

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- A -

Acceleration clause

Acceptable debt

Acceptance

Acre

Adjustable rate mortgage (ARM)

Adjusted cost basis

Adjusted gross income

Adjustment date

Adjustment period

Amortization

Amortization schedule

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Appreciation

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Asset

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- B -

Back end ratio

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Balloon note

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Bankruptcy

Before-tax income

Blanket insurance policy

Blanket mortgage

Bond

Breach of contract

Bridge loan

Building code

Buydown

- C -

Cap

Capital

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Cash-out refinance

Cash reserves

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Cloud on title

Collateral

Collection

Comparable sale (Comp)

Compensating factors

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Conforming loan

Construction loan

Consumer credit bureau

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- D -

Date of last delinquency

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Delayed adjustable rate mortgage

Delinquency

Deposit

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Discount point

Disposable income

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- E -

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- F -

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- G -

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- H -

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Home equity line of credit

Home equity loan

Home inspection

Home Owners' Association

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HUD-1

- I -

Impound account

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- J -

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- K -

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- N -

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- P -

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Principal, interest, taxes and insurance (PITI)

Private lender

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Public auction

- Q -

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- R -

Rate lock

Real property

Rebate point

Record

Refinance

Remaining balance

Remaining term

Rent

Residential loan application form (1003)

Reverse mortgage

Revolving credit

- S -

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Second mortgage

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- T -

Take-out loan

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Title

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Trailing spouse income

Transfer of ownership

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- U -

Underwriting

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- V -

VA loan

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- W -

- XYZ -

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Cash-out refinance

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