90% Cash-Out Refinance Program

Red Oak Mortgage is proud to offer a 90% loan to value (LTV) cash-out refinance program to help homeowners tap into their equity and create greater financial flexibility.

What Makes This Program Unique

Traditionally, cash-out refinances have been capped at 80% of your home’s appraised value. With this program, eligible homeowners can refinance with a Conventional cash-out refinance up to 90% LTV based on the current appraised value of their home, allowing you to access more of the equity you’ve already built.

Even better, this high LTV cash-out refinance is a Conventional 30-year fixed-rate loan with no mortgage insurance, which is typically required on loans exceeding 80% LTV.

Who Can Benefit?

This program may be a great fit if you:

  • Own your home and want to access equity on your primary residence

  • Have credit scores of 620 or higher

  • Want to consolidate high-interest debt such as credit cards, auto loans, or a second mortgage

  • Need funds for home improvements or personal financial goals

Our experienced mortgage consultants at Red Oak Mortgage will walk you through your options and help determine if this program aligns with your needs.

What Are the Benefits?

  • Refinance equity at 90% LTV

  • Can be used to consolidate debt, improve your home, or for anything you want!

  • No Private Mortgage Insurance (PMI)

  • 30-year fixed rate

  • No prepayment penalty

  • Closing available in as little as 2 weeks

    Costs & What to Expect

  • Standard closing costs do apply

  • Your only out-of-pocket expense is the appraisal

  • As with all refinances, no mortgage payment will be due in the month following your closing

  • Loan is subject to standard conventional underwriting and an acceptable appraisal. 

  • As you’d expect, rates are higher on this program than a standard rate/term refinance, but to tap into your equity that added cost may be well worth it. 

    Eligible States

  • This program is currently available in:

    New Jersey, Pennsylvania, North Carolina, South Carolina, Florida, Idaho, and Delaware

    Ready to Learn More?

    If you’re curious whether a 90% cash-out refinance makes sense for you, we’re here to help. Contact us today to find out more about the great program!

CONTACT US TO LEARN ABOUT REFINANCE PROGRAMS