Yes! Depending on your situation and factors of your current loan, you may be eligible to take cash out of the equity you have in your home. There are numerous factors that come into play when deciding your qualification - a general guideline is that your loan-to-value (LTV) ratio should not exceed 80% and your back-end debt-to-income ratio should not exceed 45%.
If any of that is confusing, we encourage partnering with one of our loan officers to examine your specific scenario. Everyone's situation is different - please download the RedDoor App to be connected to a friendly RedDoor loan officer or reach out to firstname.lastname@example.org for any questions!