A cash-out refinance replaces your existing mortgage with a new, larger loan. The new loan pays off your current mortgage balance and you receive the difference in cash at closing. For example: $400,000 home value × 80% LTV = $320,000 maximum new loan. If you owe $220,000, your maximum cash out is approximately $100,000 minus closing costs. Jhenesis Mortgage offers cash-out programs for primary homes, investment properties, self-employed borrowers, veterans, and foreign nationals across Florida.

For a conventional cash-out refinance, most programs allow up to 80% of your home’s appraised value. Cash received = new loan amount minus current balance minus closing costs. Veterans using VA cash-out refinance can access up to 90–100% of home value — more than any other program. DSCR cash-out refinances for Florida investment properties go up to $1.5 million. Use the free calculator on this page to estimate your specific maximum cash-out amount.

Requirements vary by program. Conventional: 620+ credit score, at least 20% equity remaining after cash-out, verifiable income, DTI within guidelines. DSCR Investment Property: rental income covers new mortgage payment at 1:1 ratio — no personal income docs required. Non-QM Bank Statement: 12–24 months of deposits, 20%+ equity remaining. VA: Certificate of Eligibility and honorable military service. Foreign National: passport, eligible visa type, 20%+ equity, assets sourced and seasoned. Call 407-630-9766 to find out which program your situation qualifies for.

Yes — and this is one of the most powerful strategies for Florida real estate investors. Jhenesis Mortgage offers DSCR cash-out refinances that qualify based on the property’s rental income, with no personal W-2s or tax returns required. This lets investors pull equity from an existing rental to fund the next acquisition — essentially recycling capital without selling. Loan amounts up to $1.5 million available. Investment properties do not have a 3-day rescission period, so funds are typically available at closing.

Yes. Jhenesis Mortgage offers non-QM bank statement cash-out refinances specifically for self-employed borrowers. Income is verified using 12 to 24 months of bank deposits — no tax returns required. This solves the Smart Tax Paradox: where legitimate business deductions reduce qualifying income on paper, even when real cash flow is strong. Your tax strategy shouldn’t prevent you from accessing equity you’ve legitimately built.

Cash-out refinance proceeds can be used for almost any purpose: home renovations (interest may be tax-deductible when used to improve the home securing the loan), debt consolidation (pay off high-rate credit cards and personal loans), investment property down payment, college tuition, business capital, vehicle purchase, medical expenses, or building an emergency fund. There are no restrictions from your lender on how the funds are used — but consult a tax advisor regarding deductibility for non-home-improvement purposes.

Most cash-out refinances close in 30 to 45 days from application. After closing, primary residences have a mandatory 3-day right of rescission — meaning funds are disbursed on day 4. Investment properties and second homes do not have a rescission period, so funds are typically available at the closing table. DSCR and non-QM cash-out refinances run 30 to 45 days due to manual underwriting, but the process is straightforward when documents are in order.

Cash-out refinance closing costs in Florida typically range from 2 to 5 percent of the new loan amount — approximately $6,000 to $15,000 on a $300,000 refinance. Costs include the appraisal fee, origination charges, title insurance, recording fees, and prepaid items. Some programs allow closing costs to be rolled into the loan balance so you receive your full desired cash-out amount without out-of-pocket costs. Jhenesis Mortgage issues a Loan Estimate within 3 business days disclosing all fees upfront — no surprises.

A cash-out refinance replaces your entire mortgage with a new loan and delivers a one-time lump sum of cash. Your rate and term reset on the full balance. A HELOC (Home Equity Line of Credit) sits on top of your existing mortgage as a second loan, giving you revolving access to funds as needed. Cash-out refinances are better when you want to lock in a fixed rate on the full balance or need a large lump sum. HELOCs are better when you need flexible, ongoing access to smaller amounts. See our full cash-out refi vs HELOC comparison →

Yes. Jhenesis Mortgage is VA-certified and offers VA cash-out refinances for eligible veterans, active-duty service members, and surviving spouses in Florida. The VA cash-out program allows eligible borrowers to access up to 90 to 100 percent of their home value — significantly more than the 80% limit on conventional cash-out refinances. The program can also convert a conventional or FHA loan into a VA loan while simultaneously pulling cash out. Call 407-630-9766 to check your VA eligibility — only about 15% of eligible veterans currently use their VA benefit.

Cash-out refinance interest may be tax deductible, but only under specific conditions. Under current IRS rules, mortgage interest is generally deductible when proceeds are used to buy, build, or substantially improve the home securing the loan. If you use cash-out funds for home renovations, the interest may qualify. If you use funds for debt consolidation, investments, or other purposes, the interest portion on those funds may not be deductible. Always consult a qualified tax advisor or CPA for your specific situation — Jhenesis Mortgage does not provide tax advice.

Use the free calculator on this page to estimate your cash-out amount, then call 407-630-9766, email info@jhenesismortgage.com, or start your secure online application. Stacy Ann Stephens (NMLS #1933745) personally reviews every cash-out scenario and responds within one business day. Jhenesis Mortgage (NMLS #2532705) shops your refinance across 50+ wholesale lenders to find your best rate and maximum cash-out. No automated systems — a licensed broker advocates for your deal from start to finish.