Cash-Out Refinance in Florida
Florida homeowners use cash-out refinancing to convert home equity into spendable funds — without selling their property. Dynamic Funding Solutions, Inc. helps FL homeowners across Miami-Dade, Broward, Palm Beach, Hillsborough, and Pinellas counties access that equity through a streamlined refinance process. Call us today at (561) 247-4888. Founder Lena Polnet (NMLS #17225) brings 30+ years of experience and a network of 100+ lenders to every loan file.
Florida’s real estate market delivered extraordinary appreciation from 2020 through 2023. Homeowners in Tampa, Boca Raton, Orlando, Fort Lauderdale, and West Palm Beach are sitting on equity they can put to work right now. A cash-out refinance lets you replace your existing mortgage with a larger loan and receive the difference in cash at closing.
Contact Us: Cash-Out Refinance in Florida
Dynamic Funding Solutions, Inc.
51 Buck Road, Suite A,
Huntingdon Valley,
PA
19006
Florida Phone: (561) 247-4888
Pennsylvania Phone: (215) 364-7171
Website: dynamicfunding.net
Business Hours: Monday–Friday, 9:00 AM – 6:00 PM ET. Weekend appointments available by request.
How Cash-Out Refinance Works in Florida
A cash-out refinance replaces your current mortgage with a new, larger loan. The lender pays off your existing balance. You receive the remaining funds at closing. The process works the same as a standard refinance — appraisal, underwriting, title work, and closing — but the loan amount is higher.
Loan-to-value limits matter. Conventional cash-out refinances in Florida cap at 80% LTV. FHA cash-out refinances allow up to 85% LTV. That means your new loan cannot exceed those percentages of your home’s current appraised value. The difference between your existing balance and the new loan limit is the cash you can access.
Rates run slightly higher than purchase loans. Lenders view cash-out refinances as carrying more risk. Closing costs apply and can typically be rolled into the new loan balance. Dynamic Funding Solutions shops across 100+ lenders to find the most competitive rate available for your credit profile and property type.
Florida’s no state income tax environment makes this state a magnet for real estate investors. Many investors use cash-out refinancing on Florida properties to fund down payments on additional investment properties — without liquidating assets or triggering taxable events. Learn more on our cash-out refinance services page.
Top Reasons Florida Homeowners Cash Out Their Equity
- Pay off high-interest debt. Credit card rates regularly exceed 20%. A mortgage rate — even on a cash-out refi — runs far lower. Consolidating that debt saves money every month.
- Fund home improvements. Kitchens, bathrooms, roof replacements, and hurricane-impact windows all add value to FL properties. Using equity to fund improvements can increase your home’s worth further.
- Invest in another Florida property. Rental demand runs strong in Tampa, Jacksonville, St. Petersburg, and South Florida. Cash-out funds provide the liquidity to move on investment opportunities quickly.
- Fund a business. Self-employed borrowers across Broward County and Palm Beach County use cash-out refinancing as a capital source. If you are self-employed, our bank statement loans in Florida may also fit your situation.
- Pay for college. Home equity often costs less to borrow than private student loans. Florida families use cash-out refinancing to fund tuition at University of Florida, Florida State, and other institutions.
Florida Homestead Law and the Cash-Out Refinance
Florida’s homestead exemption is powerful. It protects your primary residence from most creditors in bankruptcy and judgment situations. However, it does not protect your home from your mortgage lender. A cash-out refinance creates a voluntary lien. You pledge the home as collateral. The homestead exemption does not override that obligation.
This distinction matters. Some Florida homeowners assume their homestead protection limits what lenders can do. It does not. Your lender retains the right to foreclose if you default — homestead or not. Understand this before you proceed. Lena Polnet walks every borrower through the full picture before any application is submitted.
The homestead exemption does reduce your property tax burden through an assessment reduction. That benefit stays in place after a cash-out refinance. Your exemption status does not change when you refinance.
Frequently Asked Questions About Cash-Out Refinance in Florida
How much can you cash out on a refinance in Florida?
The amount depends on your home’s appraised value, your current loan balance, and your loan type. Conventional loans allow up to 80% LTV. FHA loans allow up to 85% LTV. For example, if your Florida home appraises at $500,000 and you owe $250,000, a conventional cash-out refi could give you up to $150,000 in cash (80% of $500,000 = $400,000 minus $250,000 owed). Credit score, debt-to-income ratio, and property type also affect the final amount.
Does Florida’s homestead exemption affect a cash-out refinance?
Florida’s homestead exemption protects your primary residence from most creditor claims and judgment liens. It does not protect your home from a voluntary mortgage lien. When you do a cash-out refinance, you voluntarily pledge your home as collateral. Your lender retains foreclosure rights regardless of homestead status. The property tax savings from the homestead exemption continue unchanged after the refinance.
When is the best time to do a cash-out refinance in Florida?
The best time is when your home value is high, your existing rate is close to or higher than current market rates, and you have a clear use for the funds. Florida home values surged from 2020 to 2023, leaving many homeowners with significant equity. If your current rate is already low, weigh the cost of the new rate carefully. Speak with Lena Polnet at (561) 247-4888 to run the numbers before deciding.
What are the tax implications of a cash-out refinance in Florida?
Cash-out refinance proceeds are not considered taxable income at the federal level because the funds are borrowed, not earned. Florida has no state income tax, so there is no state-level concern either. Mortgage interest deductibility depends on how you use the funds. Consult a qualified tax advisor for guidance specific to your situation. Dynamic Funding Solutions does not provide tax advice.
Can Florida real estate investors cash out an investment property?
Yes. Investors can do cash-out refinances on non-owner-occupied properties in Florida. LTV limits are typically lower — often 75% for single-family investment properties. Rates are also higher than primary residence loans. Florida’s no-income-tax environment makes it especially attractive for investors growing a rental portfolio. Dynamic Funding Solutions works with investors across Miami-Dade, Broward, Palm Beach, and Hillsborough counties. If you are self-employed or use rental income to qualify, ask about our bank statement loan options.
Ready to unlock your Florida home equity? Contact Dynamic Funding Solutions at (561) 247-4888 or visit our contact page to get started.
Dynamic Funding Solutions, Inc. NMLS #17144 | Lena Polnet NMLS #17225 | Licensed in Pennsylvania and Florida | Equal Housing Lender