Important Details

Refinancing Your Home Loan

Cash Out Refinance

Cash out refinance refers to a loan that provides the borrower with cash that exceeds the amount required to pay off existing mortgages on the home. Cash out refinances are a common way for homeowners to access the equity in their property. Keep in mind, the lender may charge a higher interest rate with this type of transaction.

Refinancing a first mortgage and second mortgage into one first mortgage can be considered a cash out transaction.

No Cash Out Refinance

A no cash out, or rate and term, refinance is a loan that pays off the existing mortgage principal, interest due and usually the settlement costs associated with the transaction. It doesn’t provide the borrower with any cash at closing. This refinance is done primarily to lower the interest rate, convert a variable interest rate to a fixed interest rate or change the term.

Important Details




Zions Bank sponsors the Homeowners Café® as a service to the community; therefore, all information provided should be considered as educational in nature and not as professional services. By utilizing the services of, and the information provided by, the Homeowners Café, you acknowledge and agree this does not constitute any legal commitment to become a customer of any bank, including Zions Bank and its affiliates nor does it constitute an offer of any extension or modification of any credit to you by Zions Bank or its affiliates.

Rate this page:

Do not submit personal information including account or phone numbers. We are unable to respond personally to comments made here. For Customer Service, or if you would like a personal response from us, visit the Contact Us page.


Thank you for your submission.


Thank you for visiting our site today.

Please take a 2 to 3 minute survey and help us improve your online experience.

Survey Hide X
Homeowner’s Café®
This page was last modified on Mon Oct 16 14:38:19 MDT 2017