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Lower Your Debt with a Cash-Out Refinance!
Turn Your Home Equity into Financial Freedom
Are you struggling with high-interest debt? A cash-out refinance allows you to consolidate your debt into one low monthly payment—potentially saving you thousands in interest.
Why Refinance for Debt Consolidation?
✅ Lower Your Monthly Payments
✅ Pay Off Credit Cards & Loans
✅ One Simple Payment
✅ No Upfront Costs
How It Works
1️⃣ Check Your Options – Get a free, no-obligation review of your refinance options.
2️⃣ Get Approved – Our team will handle the paperwork and guide you through the process.
3️⃣ Pay Off Debt – Once your loan closes, your high-interest balances are gone, and you enjoy a lower monthly payment!
”The HHL Group was great to work with! Very straightforward and prompt. Wouldn't go anywhere else!
CindyCash Out Refinance
Frequently Asked Questions (FAQs)
What is a debt consolidation refinance?
A debt consolidation refinance is when you take out a new mortgage loan to replace your current mortgage while pulling out cash from your home equity. The extra cash can be used to pay off high-interest debts like credit cards, personal loans, and auto loans—giving you one lower monthly payment instead of multiple bills.
How does a cash-out refinance help with debt consolidation?
✅ Lower your total monthly payments by replacing high-interest debt with a lower mortgage rate.
✅ Simplify your finances with one easy-to-manage mortgage payment.
✅ Improve your credit score by reducing your credit utilization.
How much cash can I take out with a refinance?
Most lenders allow you to borrow up to 80% of your home’s value for a cash-out refinance on a conventional loan. However, FHA and VA cash-out refinances may allow higher loan-to-value (LTV) percentages. The exact amount you qualify for depends on your home equity, credit score, and loan type.
Will my mortgage payment increase with a debt consolidation refinance?
Not necessarily! While you are increasing your loan balance to pay off debt, your total monthly payments will likely decrease because mortgage rates are typically much lower than credit card and personal loan interest rates.
What credit score do I need for a cash-out refinance?
The minimum credit score requirement varies by loan type. Even if your credit isn’t perfect, we can help explore options to get you approved.
What are the closing costs for a cash-out refinance?
Closing costs typically range from 2% to 5% of the loan amount and may include lender fees, appraisal costs, and title insurance. The good news? Many borrowers can roll closing costs into the loan to avoid upfront expenses.
Does a debt consolidation refinance hurt my credit score?
Your credit score may dip slightly when the new mortgage replaces your existing one. However, since you’re paying off high-interest debts, your credit utilization drops—which can improve your score over time.
How long does the refinance process take?
A cash-out refinance usually takes 2-4 weeks from application to funding, depending on factors like home appraisal timing and lender processing speed.
Is a debt consolidation refinance right for me?
If you have high-interest debt and sufficient home equity, a cash-out refinance could:
✅ Save you money on interest
✅ Reduce your monthly payments
✅ Improve your financial stability
The best way to know for sure? Get a free, no-obligation review of your options today!
📞 Have more questions? Call 509-252-4000 to speak with a loan expert today!
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Rate for current rates and for more information. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. HHL Group does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by HHL Group, Rate, Inc., and/or its affiliates and subsidiaries. We do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. HHL Group does not provide tax advice. Please contact your tax adviser for any tax related questions.
Using funds from a Cash-out Refinance to consolidate debt may result in the debt taking longer to pay off as it will be combined with borrower’s mortgage principle amount and will be paid off over the full loan term. Contact HHL Group for more information.
Using funds from a Cash-out Refinance to consolidate debt may result in the debt taking longer to pay off as it will be combined with borrower’s mortgage principle amount and will be paid off over the full loan term. VA Cash-out Refinance not available in Texas. HHL Group has no affiliation with the US Department of Veterans Affairs. Contact HHL Group for more information.
Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Contact HHL Group for current rates. Restrictions apply.