Can I Consolidate Other Debt by Refinancing?
Can I Access the Equity in My Home for Cash-Out or Remodeling?

Debt Consolidation

Many people use cash-out refinances to pay off debt such as credit cards, auto loans and student loans or to consolidate their debt into fewer payments. A cash-out refinance may require that the lender pay off outstanding debt at the closing table.

Home Remodeling, Home Improvements and Other Expenses

Cash-out refinances are also often used to fund home remodeling and home improvements or to pay for a wedding, college tuition or other expenses.

U.S. Bank offers two types of cash-out refinance loans:

• Conventional cash-out
• Government FHA/VA cash-out refinances

Closing costs for cash-out refinances depend on credit score, loan-to-value, occupancy status and number of units in a multi-unit dwelling. A new property appraisal will be required.