Back to Glossary
Cash-In Refinance
Updated
January 19, 2023
When a homeowner decides to make a lump-sum payment on their mortgage loan during a refinance period it is called a cash-in refinance. This is a type of cash-in refinance. Many homeowners opt for this type of refinancing opportunity in order to replace their current mortgage with a smaller principal balance. In a way, a cash-in refinance is similar to a mortgage recast, where lenders will make changes to the mortgage loan terms after the homeowner pays the initial lump sum.
Related Topics
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?
Loan Default
Financial Considerations (For First-Time Home Buyers)