Need funds for home upgrades, debt consolidation, or life’s big expenses? Kristy Gannon at Ownity Mortgage helps homeowners across California tap into their equity through Cash-Out Refinance options. With over 20 years of mortgage experience, Kristy makes it easy to access the cash you need—without giving up the home you love.
A Cash-Out Refinance allows you to replace your existing mortgage with a new one for a larger amount—and receive the difference in cash at closing. It’s a smart way to access the equity you’ve built over time and use it for big expenses like home renovations, medical bills, debt repayment, or even educational costs. Kristy Gannon helps California homeowners understand how much equity they can tap into and whether a cash-out refinance aligns with their financial goals.
This option is ideal for homeowners with significant equity in their home who need a lump sum of cash for meaningful goals. Whether you want to fund a major renovation, consolidate high-interest debt, cover emergency costs, or invest in your future, a Cash-Out Refinance gives you a powerful tool to leverage your investment. Kristy Gannon works with clients across California to unlock equity strategically and responsibly.
When you complete a cash-out refinance, your current mortgage is replaced by a new one that includes your remaining balance plus additional funds based on your home’s appraised value. The cash you receive is paid to you at closing. You’ll then repay the new mortgage just like any standard home loan, often with better terms or a lower rate if market conditions allow. Kristy Gannon will walk you through how much you can borrow, what your new payment could look like, and how this move supports your financial picture.
There are several ways to structure a cash-out refinance, including conventional cash-out, FHA cash-out refinance, and even jumbo cash-out loans for high-value properties. Your options will depend on your credit score, existing mortgage, and current equity position. Kristy Gannon will help you choose the right program with competitive terms that align with your long-term goals.
A Cash-Out Refinance allows you to turn your home equity into usable funds while keeping your property. This solution often comes with lower interest rates than personal loans or credit cards, along with the ability to simplify your finances through debt consolidation or cover major costs without tapping into retirement or savings. With Kristy Gannon’s expertise, you’ll explore how a refinance can not only improve your financial flexibility, but also support your lifestyle and peace of mind.
If your home has appreciated in value or you’ve paid down your loan balance significantly, you may be eligible for a cash-out refinance that puts real money in your hands. It’s a smart strategy for those who want to invest in their home, pay down high-interest debt, or manage big expenses. Kristy Gannon will help you evaluate your current mortgage, run equity calculations, and guide you through the decision with clarity and transparency.
With more than 20 years of experience, Kristy Gannon understands how to structure a cash-out refinance that meets your immediate needs while protecting your long-term financial health. Based in California, she provides clear communication, expert loan matching, and a personalized experience that puts you first. At Ownity Mortgage, Kristy takes the stress out of refinancing and empowers you to make smart, informed moves with your equity.
Whether you’re renovating, consolidating debt, or preparing for something big, Kristy Gannon helps you access the cash you need—easily and responsibly.
A cash-out refinance is a mortgage refinancing option that allows homeowners to borrow more than they owe on their current mortgage and receive the difference in cash. This new loan replaces the existing mortgage with a higher loan amount and possibly better terms.
A cash-out refinance replaces your existing mortgage with a new loan, while a home equity loan is a separate second loan on top of your existing mortgage. Cash-out refinancing may offer lower interest rates compared to home equity loans or HELOCs.
Most lenders allow borrowers to cash out up to 80% of their home’s value (loan-to-value ratio or LTV). VA cash-out refinance loans may allow up to 100% of home equity, depending on lender guidelines.
Most lenders require a minimum credit score of 620 for a conventional cash-out refinance. FHA and VA loans may allow lower credit scores, but borrowers with higher scores typically receive better interest rates.
Cash from a refinance can be used for home renovations, debt consolidation, education expenses, medical bills, real estate investments, or any other financial needs.
Yes, cash-out refinancing involves closing costs, typically 2% to 5% of the loan amount. Some lenders offer no-closing-cost refinance options, where fees are rolled into the loan.
Yes! If your home has appreciated in value, a cash-out refinance allows you to access more equity while potentially securing a better interest rate.
Since a cash-out refinance increases your loan amount, your monthly mortgage payments may rise. Additionally, borrowing against your home’s equity means you must continue making mortgage payments to avoid foreclosure.
The process typically takes 30 to 45 days, depending on lender processing times, home appraisal, and documentation requirements
Yes! FHA and VA cash-out refinance programs allow borrowers to refinance their existing loans while accessing home equity. VA loans may allow 100% cash-out refinancing for eligible veterans.
Yes! Many homeowners use cash-out refinancing to consolidate high-interest credit card debt or personal loans, reducing overall monthly payments with a lower mortgage interest rate.
Mortgage interest on a cash-out refinance may be tax-deductible if the funds are used for home improvements. Consult a tax professional to understand the implications.
If you don’t qualify, consider:
The Turnkey Foundation Inc. DBA Ownity Mortgage | NMLS# 236669 | NMLS# 2592455| DRE# 01845041 | All rights reserved.
7606 Meany Ave. Suite 103 Bakersfield, California 93308
DRE #01771805
NMLS #245918
Arbor NMLS #236669
Arbor DRE #01845041
