Top 8 Cash-Out Refinance Lenders Americans Trust in 2026

What Is a Cash-Out Refinance?

A cash-out refinance is a mortgage option that allows you to replace your existing home loan with a new, larger one then take the difference in cash. It's one of the most effective ways for homeowners to tap into their built-up equity without selling their property.

For example, if your home is worth $400,000 and you owe $250,000, you may qualify to refinance up to 80% of your home’s value about $320,000. After paying off your current mortgage, you could receive up to $70,000 in tax-free cash (minus closing costs).

Importance of  Cash-Out Refinance :

• Access large sums of cash at lower interest rates
• Use funds for home renovations, debt consolidation, or education
• Potential to lower your monthly payment (if rate drops)

Important to Know:

• Requires a home appraisal
• You must have strong credit and equity (usually 20%+)
• Not the same as a home equity loan or HELOC

Key Benefits of Cash-Out Refinance in 2026

A cash-out refinance offers several key advantages that make it a popular choice for homeowners looking to leverage their home’s equity. Here are the top benefits:

• 1. Access to Large Sums of Cash
  With a cash-out refinance, you can access significant amounts of money that can be used for a wide range of purposes, such as home renovations, debt consolidation, or investing in other properties.
• 2. Lower Interest Rates
  Unlike credit cards or personal loans, which often carry high interest rates, a cash-out refinance typically offers a much lower rate, potentially saving you thousands over time.
• 3. Consolidate High-Interest Debt
  Using your home’s equity to consolidate high-interest credit card or loan debt into a single monthly payment can significantly lower your overall interest rate and simplify your finances.
• 4. Potential to Lower Monthly Payments
  If mortgage rates are lower than what you’re currently paying, refinancing could reduce your monthly payment, even while pulling cash out.
• 5. Tax Benefits
  The IRS may allow you to deduct mortgage interest on cash-out refinancing used for home improvements, providing potential tax advantages.

1. Rocket Mortgage- Most Trusted Cash-Out Refinance Lender in 2026

Rocket Mortgage remains the #1 most trusted cash-out refinance lender in the U.S. for 2026. Backed by Quicken Loans, it held over 22% of the national market in 2023 and continues to lead with its fully digital platform, intuitive mobile app, and AI-powered mortgage tools.

Rated 5.0/5 by NerdWallet for cash-out refinancing, Rocket is a top choice for homeowners who want fast approvals, real-time updates, and zero paperwork hassle.

Interest Rates & How They Work

Rocket Mortgage bases your refinance rate on your credit score, property type, and loan-to-value (LTV) ratio. Borrowers with excellent credit (720+) often qualify for rates near or slightly above national averages.

• Historically, Rocket’s rates average ~0.7% above the APOR (Average Prime Offer Rate).
• You can buy discount points (1% of the loan amount per point) to reduce your rate. Each point may cut your rate by ~0.25%.
• No-closing-cost refinance options are available but typically come with higher interest rates or rolled-in fees.

Typical Fees and Closing Costs

Rocket’s closing costs range from 2% to 6% of your loan amount, depending on your location and loan size. Here's a typical breakdown:

• Origination Fee: ~$1,200
• Good-Faith Deposit: $400–$750 (applied to closing costs)
• Other Fees: Appraisal, title insurance, and recording fees vary regionally
• Average Total Cost (2023): ~$8,100, including ~$4,665 in origination fees, above average compared to many competitors

Other Key Details

• Rate Lock Options: Lock your rate for 15–90 days; extension fees may apply
• Rate Drop Advantage: If you refinance with Rocket again within 18 months, closing fees are waived
• Prepayment Penalties: None on primary homes (standard)

Customer Experience:

• Instant online preapproval (as fast as 8 minutes)
• 24/7 dashboard access via app
• Live chat, phone, and email support

2. Navy Federal Credit Union (NFCU)

Navy Federal Credit Union is a top choice for homeowners looking for cash-out refinance loans in 2026. As the largest credit union in the U.S., NFCU stands out for its low refinance rates, flexible terms, and exclusive benefits for military personnel, veterans, and Department of Defense (DoD) employees.

Why Choose Navy Federal Credit Union for Cash-Out Refinancing?

• Exclusive Membership: NFCU serves active military members, veterans, and DoD employees, offering them access to competitive home refinancing rates and tailored financial products. This membership-driven institution ensures that military families have the resources to manage their mortgage and refinance needs affordably.
• Competitive Refinance Rates: NFCU cash-out refinance rates are among the lowest in the industry, starting at 6.25% for borrowers with strong credit scores. This puts NFCU at the forefront of affordable mortgage refinancing, especially compared to traditional banks and online lenders.
• Military Benefits: For active-duty service members and veterans, NFCU offers the Military Choice Loan, which allows borrowers to refinance with no PMI (private mortgage insurance), a major financial benefit over conventional loans.

Key Benefits of Refinancing with Navy Federal Credit Union

• Affordable Fees: NFCU’s fees are typically low compared to commercial lenders. The origination fee is generally 1% of the loan amount, and these fees can often be waived for borrowers who choose a slightly higher interest rate. This is an excellent option for borrowers looking to minimize refinancing costs.
• Fast Processing Times: While NFCU isn’t the fastest online lender, it generally completes the refinance process within 30 to 45 days. Their team of experts helps guide homeowners through the process, ensuring a smooth and well-supported experience.
• Flexible Rate Lock: NFCU offers rate-lock options for 15 to 90 days, giving borrowers the flexibility to lock in a favorable rate while finalizing their refinance. You can even extend the lock if needed, protecting you from rate fluctuations in the market.
• RealtyPlus Program: NFCU’s RealtyPlus program allows borrowers to earn cash-back rewards of up to $9,000 when buying or refinancing a home. This is an excellent incentive for homeowners looking to maximize their savings when working with an NFCU-affiliated real estate agent.

What Are the Costs and Closing Fees at Navy Federal Credit Union?

• Origination Fees: NFCU's refinance origination fees are typically around 1% of the loan amount. These fees are lower than those charged by many national banks and online mortgage lenders. However, you may also opt to waive the fees by accepting a higher interest rate.
• Closing Costs: Total closing costs for a cash-out refinance with NFCU generally range from 2% to 4% of the loan amount, covering standard services like appraisals, title insurance, and credit checks.
• No PMI for Military Borrowers: The Military Choice Loan offered by NFCU allows military members to refinance without private mortgage insurance (PMI), a common requirement for conventional loans. This can lead to significant savings over time, especially for those with less than 20% equity.

Things to Consider When Refinancing with Navy Federal

• Eligibility Requirements: Membership with Navy Federal Credit Union is exclusive to military members, veterans, and certain DoD employees. If you do not meet these criteria, you won’t be eligible for NFCU’s loan products, including cash-out refinancing.
• Processing Time: While NFCU offers excellent service, some borrowers report that the refinance process can be slower compared to online lenders like Rocket Mortgage or Better.com, which often process loans more quickly. Expect an average closing time of 30–45 days.
• Customer Support: NFCU customer service is generally highly rated, though some customers have noted delays or repetitive document requests during the application process. Staying proactive in checking for document requests can help avoid delays.

NFCU Cash-Out Refinance at a Glance

3. U.S. Bank

U.S. Bank is a reliable choice for homeowners looking to refinance in 2026. Known for its robust customer service and solid reputation, U.S. Bank offers competitive rates and flexible refinancing options. With its strong presence in the mortgage market, U.S. Bank continues to attract borrowers who value personalized service alongside modern loan options.

Why Choose U.S. Bank for Cash-Out Refinancing?

• Wide Range of Loan Options: U.S. Bank offers various cash-out refinancing programs, including conventional, FHA, and VA loans. This flexibility ensures that homeowners with different needs and financial situations can find a refinancing solution that works for them.
• Competitive Interest Rates: U.S. Bank provides competitive interest rates, with starting rates for cash-out refinancing around 6.5% for borrowers with strong credit. These rates are favorable compared to many national banks, making U.S. Bank an attractive option for refinancing.
• Veteran-Friendly Options: For eligible military members and veterans, U.S. Bank offers VA cash-out refinancing. VA loans are a great option for those who want to avoid private mortgage insurance (PMI) and enjoy lower rates than conventional loans.

Key Benefits of Refinancing with U.S. Bank

• Reputable Lender: As one of the largest financial institutions in the U.S., U.S. Bank is a trusted name in the mortgage industry. Their established track record ensures that your refinance process will be handled with professionalism and reliability.
• Easy Online Application Process: U.S. Bank offers an intuitive, easy-to-navigate online platform that allows you to start your application and track your loan status at any time. Borrowers can also get pre-approved quickly with minimal paperwork required.
• Flexible Loan Terms: U.S. Bank offers a variety of loan term options, ranging from 10 to 30 years. This flexibility allows you to choose a term length that suits your budget and long-term financial goals.
• Customer Support: U.S. Bank provides excellent customer service through phone, email, and chat. Dedicated loan officers guide you through the refinancing process, helping you make informed decisions every step of the way.

What Are the Costs and Closing Fees at U.S. Bank?

• Origination Fees: U.S. Bank typically charges an origination fee of around 1% to 1.5% of the loan amount. This fee is standard for most lenders and helps cover the costs of processing the refinance loan.
• Closing Costs: Closing costs at U.S. Bank range from 2% to 5% of the loan amount, depending on the complexity of the transaction, the property’s location, and other factors. These costs generally include appraisals, title insurance, credit checks, and other necessary services.
• Discount Points: U.S. Bank allows borrowers to buy discount points, which can lower their interest rate by approximately 0.25% per point. One point costs 1% of the loan amount, so purchasing points can be a good strategy for long-term savings if you plan to keep the loan for an extended period.

Things to Consider When Refinancing with U.S. Bank

• Longer Processing Time: U.S. Bank generally has a longer processing time compared to fully digital lenders like Rocket Mortgage or Better.com. Expect a processing time of about 30 to 45 days for closing your refinance.
• Prepayment Penalties: While U.S. Bank typically does not charge prepayment penalties for their refinancing loans, it is important to verify the terms during the loan application process. Always ensure there are no unexpected fees associated with early repayment.
• Credit Score Requirements: U.S. Bank offers some of the most competitive rates, but to qualify for the best rates, your credit score needs to be above 700. If your credit score is lower, you may still qualify, but expect to pay a higher interest rate.

U.S. Bank Cash-Out Refinance at a Glance

4. PenFed Credit Union: Top Choice for Cash-Out Refinancing in 2026

PenFed Credit Union stands as a premier option for cash-out refinancing in 2026. Renowned for its competitive mortgage rates and exceptional customer service, PenFed provides a variety of affordable refinancing options, including conventional loans and VA cash-out refinancing. Veterans and military families benefit from tailored low-interest rates and flexible terms, making it an ideal lender for those eligible.

PenFed’s refinance rates are among the best in the industry, helping homeowners save significantly on monthly payments. With no prepayment penalties and exclusive member discounts, PenFed offers added value beyond just rates. You can expect closing costs between 2%–5%, with origination fees typically around 1% of the loan amount.

With a reputation for transparency and easy online access, PenFed ensures a smooth and hassle-free refinancing process. It’s a trusted choice for homeowners looking to access home equity and lower mortgage payments in 2026.

PenFed Credit Union Refinance at a Glance

PenFed Credit Union offers highly competitive refinancing options for homeowners in 2026. Whether you're aiming to access your home equity or secure better loan terms, PenFed provides a variety of loan solutions designed to fit your financial needs.

Here's a quick overview of what to expect when refinancing with PenFed:

• Interest Rates: PenFed’s cash-out refinance rates start around 6.39% APR for well-qualified borrowers, placing them among the lowest available in the industry. This helps homeowners save on both monthly payments and long-term interest costs.
• Loan Types: PenFed offers a variety of loan types, including conventional, jumbo, and VA loans. Their VA cash-out refinance option is particularly advantageous for military members and veterans, offering low-cost solutions and favorable terms.
• Loan Terms: Borrowers can choose from flexible loan terms ranging from 10 to 30 years, depending on their financial goals. PenFed also offers both fixed-rate and adjustable-rate mortgage (ARM) options, providing you with the flexibility to select the loan term that suits your needs.
• Credit Score Requirements: PenFed typically requires a minimum credit score of 650 for conventional loans and 620 for VA loans. Higher credit scores can help borrowers qualify for even better rates and more favorable terms.
• Closing Costs: One of the standout benefits of working with PenFed is their no lender fees for specific loan types, especially VA refinances. For eligible veterans, closing costs can be reduced or completely waived, making this a cost-effective solution for many.
• Processing Time: The average processing time for a refinance with PenFed typically ranges from 45 to 60 days, depending on the complexity of your application and the specifics of your financial situation.
• Eligibility and Membership: While PenFed is open to U.S. residents nationwide, membership is required to access their mortgage products. Fortunately, membership is easy to obtain by joining PenFed for a nominal fee, which can be completed online.

PenFed’s combination of low interest rates, flexible loan terms, and veteran-friendly options makes it a trusted choice for homeowners looking to refinance in 2026. Whether your goal is to lower your interest rate, access your home’s equity, or simplify your loan process, PenFed provides excellent benefits and a seamless experience.

5. PNC Bank: Leading Cash-Out Refinance Lender in 2026

PNC Bank is a top choice for cash-out refinancing in 2026, offering competitive interest rates and flexible loan options. Known for excellent customer service and easy-to-use digital tools, PNC helps homeowners access home equity or secure better loan terms.

PNC offers a range of loan types, including conventional loans, jumbo loans, and both fixed-rate and adjustable-rate mortgages (ARMs), making it ideal for various financial needs. Well-qualified borrowers can expect interest rates starting at 6.45% APR.

PNC’s no prepayment penalties and ability to serve multiple refinancing purposes, like debt consolidation and home improvements, make it a great option for homeowners looking to improve their financial situation. Whether you're seeking lower payments or tapping into equity, PNC provides a reliable and customer-friendly refinancing experience.

Why Choose PNC Bank for Cash-Out Refinancing?

• Competitive Rates: Starting at 6.45% APR, PNC offers affordable cash-out refinance options.
• Flexible Loan Options: Choose from conventional, jumbo, FHA, and VA loans to suit various financial needs.
• Varied Loan Terms: Select 10-30 year terms with both fixed-rate and adjustable-rate mortgage (ARM) options.
• No Prepayment Penalties: Pay off your loan early without any penalties.
• Low Credit Score Requirements: Minimum credit score of 620 for conventional loans, making it accessible for many borrowers.
• Cost-Effective Closing Costs: 2%-5% closing costs and competitive origination fees.
• Efficient Processing: Refinancing typically takes 30–45 days.
• Nationwide Availability: Available to U.S. residents nationwide, with no membership required.
• Strong Customer Service: Known for responsive support and easy online tools.
• Veteran-Friendly: Excellent VA loan refinancing options for military families.

PNC Bank Refinance at a Glance

• Interest Rates: Starting at 6.45% APR for cash-out refinances, offering competitive rates for well-qualified borrowers.
• Loan Types: Options include conventional, jumbo, FHA, and VA loans.
• Loan Terms: Choose from 10-30 years, with both fixed-rate and adjustable-rate mortgages (ARM).
• Credit Score: Minimum credit score of 620 for conventional loans.
• Closing Costs: Ranges from 2% to 5%, with origination fees around 1%.
• Processing Time: Typically 30-45 days for loan processing.
• Eligibility: Available nationwide, no membership required for access.

PNC Bank offers a blend of low rates, flexible terms, and efficient processing, making it a reliable choice for refinancing.

6. loanDepot: Fast & User-Friendly Cash-Out Refinance Option in 2026

loanDepot stands out in 2026 for its quick application process, transparent fee structure, and tech-driven platform. It’s one of the best lenders for homeowners seeking fast cash-out refinancing with minimal hassle.

With a strong focus on digital mortgage solutions, loanDepot allows you to apply online in minutes and track your refinance progress via a user-friendly dashboard. Borrowers often receive funding in as little as 8–10 days, making it ideal for urgent financial needs like debt consolidation or home renovation.

loanDepot offers competitive interest rates, flexible fixed and adjustable-rate loan options, and no hidden fees. The lender does not charge steering fees or prepayment penalties, making costs more predictable.

Best for: Homeowners who want fast funding, a simple online process, and clear loan terms without surprises. loanDepot is a go-to choice in 2026 for speed, convenience, and transparency.

Why Choose loanDepot for Cash-Out Refinancing in 2026?

• Fast Cash-Out Refinancing: Close in as little as 8–10 days, ideal for urgent needs like home improvement, medical bills, or debt consolidation.
• Easy Online Application: loanDepot’s digital mortgage platform offers a paperless process, letting you apply, upload documents, and track progress online perfect for busy homeowners.
• Transparent Mortgage Fees: Enjoy no prepayment penalties, no steering fees, and full visibility on closing costs so there are no surprises.
• Flexible Loan Options: Choose from fixed-rate mortgages or adjustable-rate mortgages (ARMs) to suit your budget and long-term goals.
• Low Mortgage Refinance Rates: Competitive cash-out refinance rates help lower your monthly payments or unlock home equity with favorable terms.
• Strong Customer Support: loanDepot provides access to licensed loan officers and online tools for a seamless, stress-free refinance experience.

loanDepot is ideal for homeowners in 2026 who want fast, user-friendly cash-out refinancing with transparent pricing and flexible options.

7. Better Mortgage: Top Online Cash-Out Refinance Lender in 2026

Better Mortgage is a leading online mortgage lender in 2026, known for its no-commission structure, rate-match guarantee, and fully digital experience. It’s an excellent option for tech-savvy homeowners seeking a fast, transparent, and modern way to access their home equity through cash-out refinancing.

With Better, borrowers can complete the entire refinance process online—no paperwork, no in-person meetings. The platform delivers instant rate quotes, real-time preapproval, and quick processing, often closing in under 3 weeks. Their no lender fees policy means you avoid origination and commission charges that many traditional lenders add on.

Better also offers a rate match guarantee if you find a lower quote elsewhere, they’ll beat it or pay you $100, making them a strong pick for rate-conscious borrowers.

Ideal for: Homeowners who want fully digital cash-out refinancing, low rates, and no hidden fees, with trusted service and fast funding.

Why Choose Better Mortgage for Cash-Out Refinance in 2026?

• Fully Online Mortgage Process: Better Mortgage offers a 100% digital cash-out refinance experience—no paperwork, no in-person meetings, and instant access to loan status.
• No Lender Fees or Commissions: Save money with zero origination fees, no commission charges, and transparent closing costs, making Better one of the most affordable lenders in 2026.
• Low Interest Rates With Rate Match Guarantee: Better will beat any competitor’s refinance offer or give you $100, ensuring you get the lowest possible cash-out refinance rate.
• Fast Closing Times: Many refinance loans close in as little as 21 days, ideal for homeowners needing fast access to home equity.
• Real-Time Preapproval: Get personalized refinance quotes and instant preapproval online—no hard credit check required up front.
• Tech-Driven Support: Enjoy a sleek dashboard, real-time chat, and top-rated borrower service tailored for tech-savvy homeowners.

Better Mortgage is best for those seeking a fast, low-cost, and entirely online cash-out refinance in 2026—with no hidden fees and full transparency.

8. SoFi: Best Online Cash-Out Refinance Lender for Digital Borrowers

SoFi continues to be a top pick in 2026 for homeowners who prefer a fully digital cash-out refinance experience. Designed for tech-savvy borrowers, SoFi combines low rates, no lender fees, and a streamlined process that can be completed entirely online or through their award-winning mobile app.

Homeowners can refinance with no origination fees, no prepayment penalties, and no hidden costs. SoFi offers flexible loan terms from 10 to 30 years, making it easy to tailor payments to your financial goals. Their intuitive dashboard lets you track every step, from application to closing, in real time.

Borrowers with strong credit scores often qualify for competitive refinance rates and fast approval. SoFi also provides access to exclusive member benefits, like financial planning tools and rate discounts.

Best for: Digital-first homeowners who want a quick, transparent, and fee-free refinance process to tap into home equity in 2026.

Why Choose SoFi for Cash-Out Refinancing in 2026?

• 100% Digital Experience: Apply, upload documents, and manage your refinance entirely online or through SoFi’s mobile app.
• No Lender Fees: Enjoy zero origination fees, no hidden charges, and no prepayment penalties, making SoFi one of the most affordable refinance lenders.
• Flexible Loan Terms: Choose from 10, 15, 20, or 30-year terms to match your budget and financial goals.
• Competitive Refinance Rates: Qualified borrowers with strong credit can access low cash-out refinance rates and fixed monthly payments.
• Fast Processing Times: SoFi’s efficient platform allows for quick approvals and faster closings, ideal for time-sensitive equity needs.
• Exclusive Member Perks: Get access to rate discounts, career coaching, and financial planning tools as a SoFi member.

Trusted by Digital Borrowers: SoFi consistently ranks high for user satisfaction, tech convenience, and transparent lending practices.

Why 2026 Is a Turning Point for Homeowners

After years of rate hikes and housing market uncertainty, 2026 marks a pivotal year for American homeowners. Mortgage interest rates are finally stabilizing after historic increases, while home equity levels remain at all-time highs. Many homeowners now hold tens or even hundreds of thousands in tappable equity.

At the same time, inflation pressures and rising costs of living are prompting more households to seek affordable cash options without turning to high-interest credit cards or personal loans.

That’s where cash-out refinancing becomes a powerful tool allowing homeowners to convert equity into cash, often at lower rates than other financing methods. But in a shifting market, choosing the right lender is more important than ever. A trusted lender offers competitive refinance rates, fair fees, and transparent loan terms giving you confidence and control over your financial future.

Our Advice for Choosing the Best Cash-Out Mortgage Refinance Lender

Finding the right cash-out refinance lender can save you thousands—and help you avoid costly delays or surprise fees. Here’s what we recommend when comparing lenders in 2026:

1. Get Multiple Quotes
   Even top-rated lenders offer different rates depending on your credit score, loan amount, and property location. Always compare at least 3–5 loan offers.
2. Compare APR, Fees, and Customer Service
   Don’t just look at interest rates. Review APR, origination fees, closing costs, and reviews. Small rate differences can cost thousands over time.
3. Know Their Closing Timeline
   Some lenders like Rocket Mortgage or loanDepot can close in as little as 8–10 days, while others may take weeks depending on underwriting and appraisals.
4. Understand Membership Rules
   Credit unions like Navy Federal or PenFed may offer low rates, but they require specific membership eligibility such as military or government affiliation.
5. Use Refinance Calculators First
   Before applying, use a cash-out refinance calculator to estimate: Your net cash after closing costs, Impact on your monthly mortgage payment, Your break-even point.

Conclusion:

Choosing the best cash-out refinance lender in 2026 depends on your financial goals, timeline, and personal situation. Each lender brings unique advantages:

• For speed and digital ease: Go with Rocket Mortgage or loanDepot
• For low rates and fees: Consider PenFed, PennyMac, or U.S. Bank
• For military families: Navy Federal Credit Union offers member-focused service
• For online-only borrowers: SoFi and Better Mortgage provide fast, no-hassle applications

Before committing, always check your credit score, compare loan estimates, and review the full cost of refinancing. Even a 0.25% difference in APR can save you thousands over the life of your loan.