Cornerstone Home Lending

Cash-Out Refinance in Utah

Tap into your home's equity to consolidate debt, fund home improvements, or put cash in your pocket — all while potentially lowering your monthly payments.

What Is a Cash-Out Refinance in Utah?

A cash-out refinance in Utah replaces your current mortgage with a new, larger loan and gives you the difference in cash. You're borrowing against the home equity you've built — the gap between what your Utah home is worth and what you still owe. With rising property values across the Wasatch Front and beyond, many Utah homeowners are sitting on significant equity they can put to work.

Real-World Example

Home Value$700,000
Current Mortgage Balance$365,000
New Loan Amount$423,000
Cash Out to Pay Off Debts$58,000

Monthly Savings Breakdown

Before Cash-Out Refinance

Current Mortgage$2,029/mo
Auto Loan Payment$578/mo
Credit Card Payments$1,255/mo
Total Monthly Payments$3,862/mo

After Cash-Out Refinance

New Mortgage (covers all debts)$2,593/mo
Auto Loan$0
Credit Cards$0
Total Monthly Payments$2,593/mo

Monthly Savings

$1,268.83/mo

freed up every single month

Benefits of a Cash-Out Refinance

Consolidate Debt

Roll high-interest credit cards, auto loans, and personal debt into one low monthly mortgage payment.

Lower Monthly Payments

By combining all debts into your mortgage, your total monthly obligation can drop significantly.

Tax-Deductible Interest

Mortgage interest may be tax-deductible, unlike credit card interest. Consult your tax advisor for details.

Home Improvements

Use the cash to renovate your home, increasing its value while improving your living space.

Debt Consolidation with a Cash-Out Refinance in Utah

If you're carrying high-interest credit card balances, auto loans, or personal loans, a cash-out refinance in Utah can eliminate those debts in one move. Instead of juggling multiple payments at rates of 15–25%, you replace them with a single mortgage payment at a fraction of the interest rate.

This strategy is especially powerful for Utah homeowners who have built significant home equity. By pulling cash from your home, you pay off the high-interest debts completely — saving money every month and simplifying your finances down to a single payment.

The result? More money in your pocket each month, less stress, and a clear path to being debt-free.

Programs Available

Conventional Cash-Out Refinance: Available for owner-occupied properties and non-owner-occupied investment properties. Typically allows up to 80% LTV.
FHA Cash-Out Refinance: Available for owner-occupied primary residences. Allows up to 80% LTV with more flexible credit requirements.
VA Cash-Out Refinance: Available to eligible veterans. May allow up to 100% LTV on primary residences.

Explore Related Options

A cash-out refinance in Utah isn't the only way to leverage your home equity. Compare these related programs to find the best fit for your goals:

Rate & Term RefinanceRenovation LoansRefinance Break-Even Calculator

Lower Your Payments

Find out how much you could save by consolidating debt with a cash-out refinance. Free analysis — no obligation.

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Questions about cash-out refinance?

(801) 820-7620