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Can you take cash out of a home when you buy it?

Can you take cash out of a home when you buy it?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

Unfortunately you cannot take equity out of a home with a mortgage used to buy a home. Lenders typically require borrowers to wait a year after buying a home with a mortgage before they can take equity out of the property through a cash-out refinance, home equity loan or line of credit (HELOC).

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About the author

Harry Jensen, Mortgage Expert

Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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