If you have built equity in your home and are considering putting it to work, a cash-out refinance can be one of the most direct paths to accessing that value — whether you plan to consolidate debt, fund a renovation, or cover a significant expense. But the rate you lock in will determine whether the move makes financial sense, and rates are not uniform across states or loan types.
This page covers current cash-out refinance rates 2026 for Ohio, Florida, Virginia, and South Carolina, broken down by loan type, so you can compare accurately and move forward with real numbers.
Rates on this page are updated monthly. Last reviewed: September 2026.
A cash-out refinance replaces your existing mortgage with a new, larger loan. The difference between what you owe and what you borrow is paid to you in cash at closing. You keep the equity you leave behind and take the rest as liquid funds.
For example, if your home is worth $400,000 and you owe $200,000, you may be able to borrow up to $320,000 (80% loan-to-value) and walk away with approximately $120,000 before closing costs.
The new loan carries a new interest rate — which is where today's cash-out refinance rates 2026 become the deciding factor.
The rates below reflect average ranges as of September 2026 for well-qualified borrowers in Ohio, Florida, Virginia, and South Carolina. Your actual rate will depend on your credit score, loan-to-value ratio, debt-to-income ratio, and the lender you choose.
Conventional loans generally require a credit score of 620 or higher and allow cash-out up to 80% LTV on a primary residence.
FHA cash-out refinances allow borrowers to access up to 80% of their home's appraised value. They are available to borrowers with credit scores as low as 500, though scores of 580 or higher qualify for better terms. FHA loans require mortgage insurance premiums (MIP), which affects the overall cost.
VA cash-out refinances are available to eligible veterans, active-duty service members, and surviving spouses. They allow borrowing up to 100% of the home's appraised value and carry no private mortgage insurance requirement. The VA funding fee applies, though certain borrowers are exempt.
Note: All rates shown are for illustration purposes and represent average lender ranges. Contact Advantage Lending for a personalized rate based on your specific profile.
Current refinance rates in Ohio, Florida, Virginia, and South Carolina are influenced by several overlapping factors beyond the federal funds rate.
State-level variables that affect your rate include:
Virginia refinance rates today tend to run slightly lower than Florida mortgage rates 2026, partly because Virginia's housing market has maintained stronger price stability in certain metro areas. Ohio and South Carolina sit in a similar range, with South Carolina seeing some upward pressure in coastal markets due to rising insurance costs.
The takeaway is that a rate you see advertised nationally may not reflect what is available to you in your state. Working with a lender who is licensed and active in your specific market matters.
Lenders evaluate several variables when setting your rate. Understanding these gives you leverage to qualify for the lower end of the ranges shown above.
Credit score: Borrowers with scores above 740 typically access the most competitive rates. A score between 680 and 739 is workable but will likely land you in the mid-range. Scores below 680 on a conventional loan often trigger pricing adjustments.
Loan-to-value ratio (LTV): The more equity you leave in the home, the lower your rate tends to be. Borrowing at 70% LTV will almost always carry a better rate than borrowing at 80% LTV.
Debt-to-income ratio (DTI): Most conventional lenders prefer a DTI below 45%. FHA loans allow up to 57% in some cases. A lower DTI signals less risk to the lender and typically results in a better rate offer.
Loan term: A 15-year cash-out refinance carries a lower rate than a 30-year loan, but your monthly payment will be higher because the principal is paid off in half the time.
Property type: Single-family primary residences get the best pricing. Investment properties and second homes carry rate add-ons that can range from 0.5% to 1.5% or more.
Before you compare offers from multiple lenders, it helps to know where you stand. Advantage Lending works with borrowers across Ohio, Florida, Virginia, and South Carolina and can give you a rate estimate based on your actual credit profile — not a generic advertised number.
Visit theadvantagelending.com to request a no-obligation rate check. There is no hard credit pull required at this stage.
Ohio has a relatively affordable housing market compared to coastal states, which means many homeowners have significant equity built up — particularly those who purchased before 2020. Current refinance rates in Ohio for a 30-year conventional cash-out loan are running between 6.74% and 7.10% for well-qualified borrowers as of September 2026.
Ohio borrowers using VA loans are seeing some of the most favorable terms, with rates in the 6.30% to 6.65% range on a 30-year fixed.
Florida continues to attract high demand, and that has kept home values elevated across most metros. Florida mortgage rates 2026 for cash-out refinances are marginally higher than the national average, partly due to elevated homeowner's insurance costs — particularly in coastal counties — which lenders factor into overall risk.
FHA cash-out refinances remain popular among Florida borrowers who purchased with lower down payments and may not meet conventional LTV thresholds.
Virginia refinance rates today are among the more competitive in the mid-Atlantic and Southeast regions. The Northern Virginia market in particular has seen sustained home value growth, meaning many homeowners have substantial equity to draw from. Veterans in Virginia also have access to VA cash-out refinance options with no mortgage insurance and rates that often undercut conventional pricing by 30 to 50 basis points.
South Carolina has seen notable appreciation in markets like Charleston, Greenville, and Myrtle Beach. Coastal properties carry additional insurance requirements that can affect lender pricing. Borrowers in inland metro areas like Columbia and Spartanburg tend to face fewer pricing adjustments. South Carolina is a judicial foreclosure state, which adds some administrative complexity, but does not significantly affect most borrowers' rate offers.
With rates higher than the historic lows of 2020 and 2021, the decision to do a cash-out refinance requires a clear-eyed look at the numbers.
It generally makes sense when:
It may not make sense when:
Advantage Lending can run a break-even analysis for you to determine whether a cash-out refinance fits your specific situation.
A few practical steps improve your rate outcome before you apply:
Check your credit report for errors. Disputing inaccurate negative items can raise your score within 30 to 60 days. Even a 20-point improvement can move you into a better rate tier.
Request a current appraisal estimate. Understanding your home's current market value helps you calculate your LTV before you apply, so you are not surprised during underwriting.
Reduce revolving credit balances. Credit utilization below 30% helps your score; below 10% is optimal.
Compare at least three lenders. Rates vary by lender even on the same day. Getting multiple loan estimates allows you to negotiate or simply choose the best offer.
Ask about discount points. Paying points upfront to buy down your rate can make sense if you plan to stay in the home for five or more years.
Advantage Lending is licensed to originate loans in Ohio, Florida, Virginia, and South Carolina. The team focuses on mortgage products — not cross-selling or referrals — which means faster processing and more attentive loan guidance.
For cash-out refinances specifically, Advantage Lending can work with conventional, FHA, and VA loan types, and can help you determine which structure delivers the best rate and total cost based on your equity, credit, and goals.
Their loan officers understand state-specific appraisal timelines, title requirements, and insurance considerations that can affect closing speed and final costs.
As of September 2026, cash-out refinance rates 2026 for a 30-year conventional loan range from approximately 6.70% to 7.18% across Ohio, Florida, Virginia, and South Carolina, depending on the borrower's credit score and loan-to-value ratio. VA cash-out rates are lower, ranging from 6.25% to 6.70% on a 30-year fixed. FHA rates fall in the middle, between 6.50% and 6.95%. These are average ranges; your specific rate will depend on your financial profile and the lender.
Ohio and Florida rates are generally similar, though Florida mortgage rates 2026 tend to run 5 to 10 basis points higher on average, influenced by elevated homeowner's insurance costs — particularly in coastal areas — which lenders account for in their pricing. Both states offer strong FHA and VA cash-out refinance options.
For a conventional cash-out refinance, most lenders require a minimum credit score of 620, with the best rates available to borrowers at 740 or above. FHA cash-out refinances are accessible to borrowers with scores as low as 500, though a score of 580 or higher is needed for the standard 3.5% down payment program. VA cash-out refinances do not have a VA-mandated minimum, but most lenders apply their own overlays, typically requiring at least 580 to 620.
For conventional loans, most lenders cap cash-out refinances at 80% of the home's appraised value. FHA cash-out refinances are also capped at 80% LTV. VA cash-out refinances are unique in that they allow borrowing up to 100% of the appraised value for eligible borrowers, making them the most accessible option for veterans who need to maximize the cash they can access.
Virginia refinance rates today are generally slightly lower than South Carolina's, particularly in Northern Virginia where strong home values and a competitive lending market keep pricing favorable. South Carolina rates are comparable, though coastal markets like Charleston and Myrtle Beach can see higher insurance premiums that add marginal cost. Both states offer full access to conventional, FHA, and VA cash-out refinance programs through lenders like Advantage Lending.
If you are ready to access your home equity, the next step is getting a rate quote based on your actual loan profile. The numbers on this page give you a realistic starting point, but the rate you qualify for depends on your credit, your home's value, and the lender you choose.
Advantage Lending works with homeowners across Ohio, Florida, Virginia, and South Carolina to structure cash-out refinances that are priced competitively and processed efficiently.
Contact Advantage Lending today at the advantage lending to speak with a licensed loan officer, get a personalized rate quote, and find out how much equity you can access. No obligation. No pressure.
The interest rates listed in this article are averages compiled from publicly available lender data and market surveys as of September 2026. They are provided for informational purposes only and do not constitute a loan offer, commitment to lend, or guarantee of any specific rate or terms. Actual rates and loan terms vary based on individual creditworthiness, loan-to-value ratio, property type, location, and lender guidelines.
Mortgage rates change daily and can fluctuate significantly based on economic conditions, Federal Reserve policy, and secondary market activity. Rates shown here may no longer reflect current market conditions by the time you read this page.
Advantage Lending is a licensed mortgage lender. Licensing information is available on their website and through the Nationwide Multistate Licensing System (NMLS). This content does not constitute financial, legal, or tax advice. Consult a qualified financial professional before making decisions about your mortgage or home equity.
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