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Cash Out Refinance

A Clear Look at Cash Out Refinancing Across Georgia

A cash out refinance replaces your current mortgage with a larger one and returns part of the difference to you in cash. It is not free money. It is equity you already own, converted into mortgage debt secured by your home. Four paths can get you there, and they do not all fit the same homeowner. Based in Atlanta, our team walks Georgia homeowners through the numbers phone first, including the times the answer is to keep the loan you have.

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Atlanta based, serving homeowners and investors across Georgia.

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The Five Things to Know First

What is a cash out refinance?

A new, larger mortgage that pays off your existing one and returns the difference to you in cash at closing, minus costs. Your old loan is gone. The new loan carries today's rate, a new term, and a larger balance. The cash is equity you already had, converted into debt you now owe.

Is my available equity the same as my available cash?

No, and this is where most homeowners are surprised. Every program caps how much of your value the new loan can represent. What reaches you is what remains after your current mortgage is paid off, closing costs are covered, and Georgia recording taxes are paid. The cash in hand is usually well under the equity on paper.

What happens to the mortgage I have now?

It is replaced entirely. This is the point most homeowners underestimate. If your current rate sits well below what is available today, that rate goes away on your whole balance, not just on the portion you are cashing out. The comparison that matters is your entire mortgage before and after.

Which programs allow cash out?

FHA, Conventional, and VA cash out refinances apply to homes you live in, each with its own limits and costs. DSCR is a separate path for investment property, where qualification leans on the property's rental cash flow rather than personal income. Which ones are open to you depends on occupancy, eligibility, and equity.

Does the reason for the cash matter?

More than the amount does. Equity that funds a roof, a paid off high rate balance, or a real business opportunity is doing work. Equity that fills a lifestyle gap tends to return as a larger mortgage and the same gap. Decide what it is for before you decide how much to take.

I own a rental property, or I just bought one. Is this the same conversation?

No, and it is worth saying early. Cash out on investment property runs through Conventional at reduced limits or through DSCR, which qualifies on the property's cash flow. FHA and VA are not available on a rental. If you bought recently, the timing rules matter too, and they differ sharply between agency and investor programs. See what Georgia investors should know.

Cash Out Equity Review

Find Your Real Number Over the Phone

The math is not complicated, but almost everyone runs it wrong the first time. Start with your property value. Multiply by the maximum your program allows. Subtract your payoff. Then subtract closing costs and Georgia's intangible recording tax. What is left is your cash. We walk through yours line by line in one call, including what your equity looks like the day after closing.

A phone review is not a loan application and is not a commitment to lend. Available proceeds are never guaranteed and depend on verified value, exact payoff, program guidelines, and underwriting.

What to expect

  • Free and no obligation
  • Which of the four paths you may qualify for
  • Costs and Georgia recording tax included up front
  • Your remaining equity after closing, stated plainly
Call 404.919.5533 Talk With A Loan Expert
  • Every cost on the table before you apply
  • Honest answers, including when not to take equity out
  • Atlanta based team serving homeowners across Georgia

Who It May Fit

Homeowners Who Often Consider Cash Out

The common thread is real equity, a defined use for the money, and a clear view of what the new mortgage will look like afterward.

See where your equity stands

  • Homeowners with meaningful equity and a defined projectA renovation with quotes in hand, or a planned expense with a date on it. The purpose came first and the financing question came second.
  • Homeowners carrying high cost unsecured balancesBalances at rates well above mortgage rates, large enough to matter. A strong use of equity, alongside an honest look at the spending that created them.
  • Homeowners whose current rate sits near today's marketWhen the two rates are close, replacing your mortgage costs little in rate terms, and the decision becomes mostly about cost and purpose.
  • Homeowners staying long enough for the costs to make senseClosing costs and a reset term are absorbed over years, not months. Homeowners who move soon after a cash out rarely come out ahead.
  • Veterans with entitlement and equity in a home they occupyVA allows financing up to [CMS: VA maximum percentage of reasonable value] of VA determined reasonable value, the most equity access of the four paths, with a funding fee unless exempt.
  • Georgia investors redeploying equity, including on a property bought recentlyDSCR qualifies on the property's rental cash flow rather than personal income documentation. Seasoning is also where investor programs separate from agency rules, which matters when you bought a foreclosure or auction property below market and want that equity working again quickly.

Being in one of these groups does not guarantee eligibility, approval, or any particular amount of cash. Every cash out refinance depends on the complete situation and applicable program requirements.

An Honest Look

When Cash Out May Not Be the Right Move

We would rather lose the transaction than put you in the wrong one. If any of these describe you, say so early and we will look at something else, including doing nothing.

Sometimes the best thing we can tell a homeowner is that the mortgage they already have is the better deal.

  • Your current rate is well below today's marketThe most common reason to stop. You surrender a below market rate on your entire balance to access a comparatively small amount of cash. A second lien that leaves your first mortgage untouched often serves you far better.
  • The amount you need is small relative to your mortgageRefinancing a large mortgage to access a small sum means paying costs and recording taxes on the whole balance. Transaction cost follows loan size, not cash size.
  • The new payment would strain the budgetIf the payment only works in a month where nothing goes wrong, you are adding risk to the house securing it. Georgia allows non judicial foreclosure, so the process here moves faster than in many states.
  • There is no defined purpose for the moneyHaving cash available is not a plan. Equity taken without a use tends to be spent without a return, and the payment lasts long after the money is gone.
  • You may sell within the next few yearsCosts and the reset timeline need years to justify themselves. You would likely pay the full cost of the transaction, capture little of the benefit, and arrive at the sale with less equity.
  • You do not have enough usable equity yetIf your balance already sits near the program ceiling, there may be little or nothing left after costs. We will tell you this on the first call rather than after the appraisal.

The Full Picture

Potential Benefits, Weighed Against Real Considerations

Potential Benefits

  • Converts accumulated equity into usable funds without selling the property or moving
  • May replace several high rate obligations with a single mortgage payment
  • Funds major projects at mortgage rates rather than consumer credit rates
  • Proceeds are generally not limited to specific purposes by the program
  • A conventional cash out at its maximum generally carries no borrower paid mortgage insurance
  • Eligible Veterans may access more equity than any other path, with the funding fee waived when an exemption applies
  • DSCR may free equity from a performing rental without personal income documentation

Important Considerations

  • Your mortgage balance increases and your equity decreases; that is the transaction, not a side effect
  • Closing costs apply to the entire new loan, plus Georgia's intangible recording tax on the full note
  • Cash out is priced above a standard refinance at every loan to value tier
  • A larger balance at a current market rate usually raises the monthly payment
  • Resetting or extending the term can increase total interest even when the payment drops
  • Program costs apply: FHA mortgage insurance, the VA funding fee, or DSCR program terms
  • This debt is secured by your home, and tax treatment depends on use and individual circumstances

This section is for education, not product promotion. Whether a cash out refinance serves you depends on your complete situation, and refinancing may increase your total finance charges over the life of the loan. UHome does not provide tax or legal advice; discuss deductibility with a qualified tax professional.

The Heart of the Decision

Which Cash Out Path Fits: FHA, Conventional, VA, or DSCR

Four programs can pull cash out of a property, and they are genuinely different products. This is the plain English version of what separates them.

FHA cash out
For homeowners who live in the property. FHA caps the new loan at [CMS: FHA maximum LTV] of adjusted value and applies credit and payment history standards that are often more flexible than conventional. The tradeoff is mortgage insurance: an upfront premium of [CMS: FHA upfront MIP percentage] added to the loan, plus an annual premium. Because cash out caps below the higher tier, that annual premium runs [CMS: FHA annual MIP duration at or below 90 percent LTV] rather than the life of the loan. Worth considering when credit makes conventional difficult, once the insurance is priced in.
Conventional cash out
For stronger credit and equity, on primary residences, second homes, or investment property. Maximum financing is [CMS: conventional maximum LTV, one unit primary] of value on a one unit primary residence, and lower on multi unit, second home, and investment property. No mortgage insurance at the maximum, which is its main cost advantage over FHA. Two separate waiting periods apply, and they are commonly confused: at least one borrower must have been on title for [CMS: conventional title seasoning], and the first mortgage being paid off must be at least [CMS: conventional loan seasoning] old. Both are agency rules. Investor programs outside the agencies set their own, which is why a recently purchased property is a different conversation.
VA cash out
For eligible Veterans and service members who will occupy the property. VA permits financing up to [CMS: VA maximum percentage of reasonable value] of VA determined reasonable value, the most equity access of any path, and can refinance a non VA loan into a VA loan. It carries a funding fee unless you are exempt, requires full credit and income underwriting and a VA appraisal, and must satisfy VA's net tangible benefit test. VA also requires your lender to hand you a written comparison of the existing loan against the new one twice: shortly after application and again at closing. Occupancy is required, so VA cash out is not available on a rental.
DSCR cash out
The investment property path, and a different kind of loan. Qualification centers on whether the property's rental income covers its debt service rather than on personal income documentation, which is why Georgia investors use it to free equity from a performing rental. Requirements including minimum coverage ratio, maximum financing, credit, reserves, and any prepayment terms are set by the specific investor program in use, not by a federal agency, and they vary materially by lender. Seasoning is the sharpest example. Agency rules make you wait before a recently purchased property can be refinanced against its appraised value, but some investor programs carry no ownership seasoning requirement at all. For an investor who bought a foreclosure or auction property below market, that difference decides whether the new loan is sized on what you paid or on what the property is now worth. As business purpose financing on a property you do not occupy, it also sits outside consumer protections that apply to owner occupied loans, including the three business day right to cancel.
Which ones are actually open to you
Most homeowners do not choose from all four. Occupancy narrows it first: if you do not live in the property, FHA and VA are out. Eligibility narrows it next, since VA requires entitlement and each program has its own credit and equity standards. Equity narrows it last, because a balance already near the ceiling leaves nothing to take. The real question is usually which two you qualify for, and which of those two costs less.
The comparison that actually decides it
Not which program hands you the most cash. The right comparison is the total cost of the new mortgage against the total cost of keeping the one you have, plus what it would cost to get the money another way. A path that offers more cash while resetting a low rate across a larger balance can easily be the most expensive option on the table. We run that comparison in writing before you apply.
Compare My Cash Out Options Call 404.919.5533

Every figure above is set by federal program rules that change, or by an investor program that varies by lender. Nothing here is a quote, a rate, or an approval. Want to run rough numbers first? Our refinance calculator compares a current loan to a new one on figures you enter, though it does not include mortgage insurance, the VA funding fee, or Georgia recording tax, which we walk through with you.

Honest Math

What Cash Out Costs, and How to Judge Whether It Is Worth It

How much cash can I get is the wrong first question. These four things decide whether the transaction was worth doing.

What the transaction costs to complete

You pay closing costs on the full new loan, not on the cash portion. Expect lender and origination charges, appraisal, title work, attorney fees, recording fees, prepaid interest, and escrow funding. Georgia adds two line items most out of state calculators miss. The intangible recording tax runs [CMS: Georgia intangible recording tax rate] of the face amount of the new note, and it applies to the whole loan rather than the cash you receive. A narrow exemption exists for refinancing unpaid principal with the original lender who still holds the note, but it never covers new money, so the cash out portion is taxable regardless. Georgia also charges a [CMS: GRMA fee amount] Georgia Residential Mortgage Act fee at closing. One piece of good news: Georgia's real estate transfer tax does not apply to a refinance, because no title passes from a seller to a buyer. Financing your costs does not remove them; it moves them into the balance where they accrue interest.

What the program itself costs

This is where the four paths separate. FHA adds an upfront mortgage insurance premium of [CMS: FHA upfront MIP percentage] to the loan plus an annual premium collected monthly. VA charges a funding fee of [CMS: VA cash out funding fee, first use] on first use and [CMS: VA cash out funding fee, subsequent use] on subsequent use, which may be financed but must fit inside the maximum, and which is waived entirely for borrowers who qualify for an exemption, including many Veterans receiving VA compensation for a service connected disability. Conventional carries no mortgage insurance at its maximum, but cash out pricing adjustments apply at every tier and grow as credit score falls and loan to value rises. DSCR pricing, reserves, and any prepayment terms are set by the investor program. Current figures are published by the agencies linked in the sources below.

The break even question, asked honestly

Set everything the transaction costs against what you actually gain. If the gain is a lower blended cost of debt, compare the interest you were paying on those balances against the interest you will pay on the added mortgage debt, and find the month where the savings have repaid the costs. Then check the number that undoes most consolidation math: how long you will carry it. Moving a balance from a three year payoff onto a thirty year mortgage lowers the payment substantially and can still cost more in total interest. Lower payment and lower cost are not the same thing, and a lender showing you only the payment is not showing you the decision.

The full before and after picture

Put these side by side before you sign: current balance, current rate, remaining term, new loan amount, new rate, new payment, closing costs, mortgage insurance or funding fee where they apply, cash actually received, equity remaining after closing, total interest across each loan, and how long you realistically expect to keep the property. That last item quietly governs the rest. A transaction that is expensive over thirty years can be entirely reasonable over five. Ask for this comparison in writing. On a VA cash out, federal rules require your lender to give it to you twice; on the other three paths you should ask for it anyway, and we provide it either way.

Compare Your Paths

Cash Out, a Second Lien, or Keep Your Current Loan

Three legitimate paths. No path is best for everyone, and keeping the loan you have is sometimes the right answer.

Qualitative comparison of a cash out refinance, a home equity loan or HELOC, and keeping the current mortgage
Criteria You Are Viewing This ProgramCash Out Refinance Home Equity Loan or HELOC Keep Your Current Loan
Best suited for Homeowners whose current rate is near today's market and who need a substantial amount Homeowners protecting a low first mortgage rate, or needing a smaller amount Homeowners with a strong existing rate, a small need, or plans to move soon
Your first mortgage Paid off and replaced at today's rate and term Untouched; rate, balance, and term stay as they are Untouched
Cash from equity Up to the program ceiling, less payoff and costs Up to the combined limit allowed across both liens Not applicable
Costs Full closing costs on the entire new loan, plus Georgia intangible recording tax on the full note Generally lower closing costs, calculated on a smaller loan amount None
Effect on your timeline Resets or extends the clock on your entire housing debt Adds a second timeline; the first mortgage schedule is untouched Unchanged; you keep paying down on schedule
Investment property Conventional at reduced limits, or DSCR, which qualifies on property cash flow. FHA and VA are not available Availability is limited and varies by lender Always available
Primary advantage One loan, one payment, the largest accessible amount, fixed rate available on the full balance Preserves a below market first mortgage rate, often worth more than anything else here Costs nothing, risks nothing, preserves every option you have today
Potential tradeoff You surrender your current rate on the entire balance and reset the term Two payments, a higher second lien rate, and payment variability on a HELOC The need goes unfunded, or gets funded at unsecured rates
When another path may fit better Your existing rate is far below market, or the amount needed is small You need a very large amount, or want everything at one fixed rate A defined, priced need exists that unsecured credit would fund far more expensively
Check My Cash Out Options Compare Home Equity Options Sometimes the honest answer

You Are Viewing This Program

Best suited for
Homeowners whose current rate is near today's market and who need a substantial amount
Your first mortgage
Paid off and replaced at today's rate and term
Cash from equity
Up to the program ceiling, less payoff and costs
Costs
Full closing costs on the entire new loan, plus Georgia intangible recording tax on the full note
Effect on your timeline
Resets or extends the clock on your entire housing debt
Investment property
Conventional at reduced limits, or DSCR, which qualifies on property cash flow. FHA and VA are not available
Primary advantage
One loan, one payment, the largest accessible amount, fixed rate available on the full balance
Potential tradeoff
You surrender your current rate on the entire balance and reset the term
When another path may fit better
Your existing rate is far below market, or the amount needed is small
Check My Cash Out Options

Scroll the table sideways to compare all three paths.

If the property is an investment property, tell us on the first call. A DSCR cash out sits in the first column structurally, since the first mortgage is replaced, but it qualifies on the property's cash flow rather than your income, and as business purpose financing it carries no three business day right to cancel.

Your Path

How Cash Out Refinancing Works

  1. Start With What the Money Is For

    Before programs, we ask what you are trying to accomplish and what it actually costs. That answer often changes the recommendation.

  2. Review Your Loan and Your Equity

    Your rate, balance, term, and payment against a realistic view of value. This is where we learn whether the equity justifies the transaction.

  3. Compare the Available Paths in Writing

    Occupancy, eligibility, credit, and equity decide which programs are open. We show the qualifying options side by side, including doing nothing.

  4. Application, Documents, and Appraisal

    All four paths require a current opinion of value, because every program's limit is calculated against it.

  5. Full Underwriting and Approval

    There is no streamlined version of a cash out. On owner occupied loans, the lender must evaluate income, assets, obligations, and credit, and may not qualify you on home value alone.

  6. Closing, the Waiting Period, and Funding

    Georgia refinances close with a licensed Georgia attorney. On a home you live in, federal law generally gives you three business days to cancel before funds disburse. On investment property that period does not apply. Keep paying your current mortgage until your servicer confirms the payoff.

Be Prepared

Documents and Information You May Need

What we need depends on the program. No cash out program is a no documentation loan, including DSCR, which substitutes property documentation for personal income documentation rather than removing paperwork.

  • Government issued photo identification for every borrower
  • Your current mortgage statement, for every lien on the property
  • Homeowners insurance information, or a landlord policy on a rental
  • Income documentation for the owner occupied paths
  • Asset documentation where reserves are required
  • Property information, including occupancy and recent improvements
  • VA Certificate of Eligibility and funding fee exemption documentation when applicable
  • Leases and rent roll for investment property, including DSCR
See What Applies to Me

Real World Context

Three Common Homeowner Scenarios

Educational examples only, with rounded illustrative figures. They show how the thinking works, not how any specific loan will be decided. No one here is a real customer.

Educational Example 01

The Renovation and the Rate Worth Protecting

The situation
A Marietta homeowner has a home worth roughly $400,000 and owes $250,000 at a rate well below today's market. Contractors have quoted a kitchen and roof at about $60,000.
Why cash out may be considered
A conventional cash out supports a new loan large enough to reach the $60,000 target after payoff and costs, at one fixed rate with a single payment.
What still needs review
The below market rate applies to the entire $250,000, not just the $60,000 being borrowed. Replacing the whole mortgage means paying today's rate on all of it, plus Georgia recording tax on the full note.
When another route could fit better
A home equity loan or HELOC that leaves the first mortgage untouched and borrows only the $60,000. For a homeowner with a rate materially below market, this is often the stronger answer, and we would say so.

Educational Example 02

The Veteran Weighing Access Against Cost

The situation
A Fayetteville Veteran has full entitlement, a home appraising near $350,000, owes $200,000, and carries roughly $50,000 of credit card debt at rates in the twenties. The Veteran receives VA compensation for a service connected disability.
Why VA cash out may be considered
VA permits the most equity access of any path, and the funding fee exemption removes the single largest program cost for this borrower. Replacing twenty plus percent unsecured interest with mortgage rate interest can produce real savings.
What still needs review
Access is not the same as advisability. Financing to the maximum would leave almost no equity cushion, and unsecured debt becomes secured by the home. VA requires the lender to disclose in writing how much equity is being removed and to explain that it may affect the ability to sell later.
When another route could fit better
If the spending behind the balances has not changed, consolidation often precedes a rebuilt balance with the house attached. A smaller draw, or one paired with a budget change, is frequently the better transaction. VA eligibility does not make VA automatically right.

Educational Example 03

The Investor Recycling Equity

The situation
An investor owns a south DeKalb rental worth roughly $300,000, owes $150,000, and rents it at a level that comfortably covers the payment. Tax returns show heavy depreciation. A second property is under consideration.
Why DSCR may be considered
DSCR qualifies on whether the property's rental income covers its debt service rather than on personal income documentation, which matters when returns understate actual cash position.
What still needs review
DSCR terms are set by the investor program and vary materially between lenders. The new payment must still be covered by rent with room to spare, because a vacancy now hits a larger payment. This is business purpose financing, so there is no three business day right to cancel.
When another route could fit better
If rent barely covers the current payment, a larger payment removes the margin that makes the property safe to hold. If the next purchase is speculative rather than identified and analyzed, this is borrowing against a working asset to chase an unproven one.
See Where My Equity Stands

Your situation is its own scenario. Let us look at it together.

Protect Yourself

Home Equity Is the Easiest Asset to Spend Without Noticing. Read This First.

Georgia's Department of Banking and Finance names both loan flipping, meaning repeated refinancing that produces little or no tangible benefit, and equity stripping as abusive lending practices. Here is how to tell the difference before you respond to anything, including anything from us.

Warning signs

  • The pitch leads with the cash number instead of the payment, the rate, and the cost
  • A payment comparison that sets your full current payment against principal and interest only on the new loan
  • Closing costs described as covered, rolled in, or free
  • Being refinanced again soon after the last one, restarting the term and the costs each time
  • Guarantees, urgency, or official looking government branding on the offer

What honest looks like

  • A written comparison of the loan you have against the one proposed, full payment against full payment
  • Every cost disclosed before you apply, stated in dollars rather than as rolled in
  • Your remaining equity the day after closing, stated plainly
  • A willingness to tell you that a second lien or no transaction at all serves you better
  • No affiliation claims. UHome Mortgage is not affiliated with or endorsed by any government agency

Local Guidance

Cash Out Guidance for Georgia and Atlanta Metro Homeowners

Layer One: Georgia Statewide

What Georgia adds to a cash out refinance

Georgia does not impose its own limits on cash out refinancing. Unlike a few states that restrict home equity borrowing by statute, the ceilings here come from the loan programs themselves. What Georgia does add is a specific set of costs and legal mechanics worth understanding before you sign.

The intangible recording tax is the cost most homeowners miss. It is charged on the face amount of the new note, which means the whole loan rather than the cash you receive, and it is a meaningful line item on a larger balance. A narrow exemption exists for refinancing unpaid principal with the original lender who still holds your note, but because most Georgia mortgages are sold on the secondary market, and because the exemption never covers new money, cash out borrowers should plan on paying it.

Georgia closings are conducted by attorneys. The Georgia Supreme Court has held that only a licensed Georgia attorney may close a real estate transaction or prepare the deed instruments involved, including security deeds. If you have refinanced in a state that uses title or escrow companies, this will look different, and attorney fees are a normal part of the cost here.

What pledging equity means under Georgia law

Georgia uses a security deed, and title passes to the lender until the debt is paid. A lender may foreclose under a power of sale without going to court, after providing the borrower advance written notice. This is not a reason to avoid a cash out refinance. It is a reason to be honest with yourself about whether the new payment works in a bad month as well as a good one.

One more item that catches people: Georgia homestead exemptions continue automatically as long as ownership and occupancy stay the same. A refinance that changes who is on the deed, such as adding or removing a spouse or co borrower, or moving title into or out of a trust or LLC, is an ownership change and may require a new application with your county. If your transaction touches title, confirm with your county tax commissioner rather than assuming.

Layer Two: Atlanta, Our Home Market

An Atlanta based team, reviewing Atlanta area equity

UHome Mortgage is headquartered in Atlanta, and the metro is where our team reviews these conversations every week. A few situations come up again and again. Equity here is uneven by submarket rather than by metro: a mid century ranch inside the Perimeter, a mid 2000s subdivision in Gwinnett or Paulding, and a recent build in Forsyth or Cherokee have followed genuinely different value paths. Because every program's ceiling is calculated against appraised value, automated estimates in mixed age neighborhoods are often off by enough to change the outcome.

Primary residence versus investment property is the first question we ask here, and it is not a formality. Metro Atlanta has one of the more active small investor rental markets in the Southeast, and a large share of our cash out conversations involve a property the owner does not live in. That single fact removes FHA and VA entirely, lowers the conventional ceiling, and opens DSCR. If you own more than one property, tell us which one you live in on the first call.

The other recurring theme is second liens. Many metro homeowners who bought or refinanced during the low rate years added a HELOC afterward. Any existing second lien must be paid off through the new loan or formally subordinated to it, and subordination takes time and is not guaranteed. We raise that early rather than at the finish line, because it is one of the most common causes of a delayed closing.

Atlanta Metro considerations

[CMS: Atlanta Metro content] Editable extension area for additional metro context UHome wants to publish over time, such as anonymized questions received from Metro Atlanta homeowners considering cash out.

Layer Three: County Resources

Metro Atlanta county resources

Because every program's limit is calculated against your property's value, and because a title change can affect your homestead exemption, your county assessor and tax commissioner are the right primary sources. These links go to the official county offices.

FultonDeKalbCobbGwinnett ClaytonHenryDouglasPaulding

Good Questions

Asset Depletion Questions, Answered Plainly

What is an asset depletion refinance?

An asset depletion refinance, also called asset utilization, qualifies you on your assets instead of a paycheck. The program converts your documented accounts into a monthly qualifying income figure, and the cash out version replaces your current mortgage with a larger one and hands you the difference in cash. It is available for primary residences and second homes, and a rate and term version is available when cash is not the goal.

Which assets count, and at what percentage?

Checking, savings, money market, stock, bond, and mutual fund accounts generally count at their full documented value. Retirement accounts count at 70 to 100 percent depending on the program, your age, and vesting, and eligible trust accounts can count in full under one active program. Statements covering the most recent one to three months are required, and assets generally must be seasoned at least 30 days.

Do I have to liquidate or move my accounts?

No. The program documents your accounts to build the qualifying income figure; it does not require you to cash them out or move them. You keep control of your assets, and where post closing reserves are required, they need to be verified, not surrendered. At or below 75 percent financing, current guidelines generally require none.

Do I need a job or tax returns?

No. Employment verification, W2s, pay stubs, and tax returns are not part of this qualification path. Income is still calculated, though. It comes from your assets, and your monthly debts, including the new mortgage payment, must fit within it, generally within a 50 percent debt to income cap under current guidelines.

How much can I borrow, and how much cash can I get?

Under current program guidelines, qualifying can start at a 600 credit score, with cash out financing up to 75 percent of your home's value on loans to 1 million dollars and 70 percent up to 1.5 million. Loan amounts reach 2 million dollars for stronger credit, and cash in hand is capped between 1 and 1.5 million for most files, with unlimited cash possible for the strongest files at or below 65 percent financing on a primary residence. Guidelines change, so we confirm the current limits against your real numbers during the phone review.

Is this the same as the no income, no ratio loan?

No, they are siblings, and we offer both. A no income loan calculates no income at all and leans entirely on equity, credit history, and reserves. Asset depletion builds a real monthly income figure from your accounts and measures your debts against it, which can open different terms. Which one wins depends on your accounts, your equity, and your credit, and we compare them side by side with you.

What credit history does the program look for?

Established credit and a complete 12 month housing history. Clean recent mortgage or rent payments make the strongest file, and a recent late payment can reduce the maximum financing rather than ending the conversation, depending on the program. Waiting periods apply after major credit events such as bankruptcy, foreclosure, or a short sale, with reduced limits in the earlier windows.

Can I do a rate and term refinance with asset depletion instead of cash out?

Yes. The same documentation path offers a rate and term refinance, which changes your rate or term without pulling cash from your equity, and it generally allows higher financing limits than the cash out version under current guidelines. If lowering your payment is the real goal, that is the version to compare, and we review both with you.

Still have a question? Call 404.919.5533 or Talk With A Loan Expert.

Sources

Guideline Sensitive Information on This Page Is Checked Against These Sources

Sources and References

Reviewed by Coby Pegues, Founder and President, UHome Mortgage LLC, NMLS 2556341. Last reviewed August 2026.

Keep Learning

HELOC vs Home Equity Loan vs Cash Out HELOC Home Equity Loans FHA Loans VA Loans Conventional Loans DSCR Investor Loans Refinance Calculator

Your Next Step

Let's Find Out Whether Taking the Cash Makes Sense

Share a few details about your property and what the money is for. UHome will run the comparison with you, show you every cost, and tell you honestly whether cash out wins, a second lien serves you better, or the mortgage you already have keeps the crown.

Check My Options Talk With A Loan Expert Call 404.919.5533
  • No commitment
  • Every cost disclosed up front
  • Your remaining equity explained before you proceed

Disclosures

General mortgage disclosure

[CMS: General disclosure] This page is for educational purposes and is not a commitment to lend. Program requirements may vary. Eligibility depends on the complete borrower profile and applicable agency, lender, and investor requirements. Refinancing may increase the total finance charges paid over the life of the loan. All examples on this page are illustrative and educational only. They are not quotes, offers, predictions of results, or accounts of actual customers. Actual loan terms and available proceeds depend on verified property value, exact payoff amounts, program guidelines, credit, income, assets, pricing, and underwriting approval.

Program disclosures

[CMS: Program disclosure] UHome Mortgage LLC is not affiliated with, endorsed by, or acting on behalf of or at the direction of the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development, the Federal Housing Administration, or any government agency. FHA cash out refinances require mortgage insurance, including an upfront premium and an annual premium. VA cash out refinance eligibility requires a valid Certificate of Eligibility and available entitlement, occupancy of the subject property, and satisfaction of VA net tangible benefit requirements; a funding fee applies unless the borrower qualifies for an exemption. Conventional maximum financing, seasoning, reserve, and credit requirements are established by Fannie Mae and Freddie Mac and are subject to change. A cash out refinance increases the principal balance secured by your home and reduces your home equity. Savings and available proceeds are not guaranteed.

Investment property and business purpose financing

[CMS: DSCR disclosure] DSCR loans are business purpose loans made for investment properties and are not intended for the purchase or refinance of an owner occupied primary residence. Business purpose loans secured by non owner occupied property are not subject to certain consumer protections that apply to consumer mortgage loans, including the Truth in Lending Act right of rescission. Program terms, including maximum financing, minimum debt service coverage ratio, credit, reserve, and prepayment requirements, are established by the applicable investor program, vary by lender, and are subject to change.

Licensing information

Coby Pegues, NMLS #2556341 · UHome Mortgage LLC, Company NMLS #2559453

[CMS: State licensing] Licensed in Georgia, Alabama, and Texas. State licensing details placeholder.

Equal Housing Opportunity

[CMS: EHO statement] Equal Housing Opportunity. Placeholder for the Equal Housing statement and logo placement.

Additional program disclosures

[CMS: Additional disclosures] Continue making payments on your current mortgage until you receive confirmed instructions from your servicer. This loan is secured by real property; failure to make required payments may result in loss of the property through foreclosure. Consolidating unsecured debt into a mortgage converts that debt into debt secured by your home and may increase the total interest paid over time, even where the monthly payment decreases. UHome Mortgage LLC does not provide tax or legal advice; consult a qualified tax professional regarding deductibility.

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3401 Norman Berry Dr Ste 257-A Atlanta,
GA 30344

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UHome Mortgage | NMLS #2559453 | Coby NMLS #2556341 | Licensed in Georgia, Alabama, and Texas. This is not a commitment to lend. Equal Housing Opportunity.
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