This type of refinance loan is known as cash out refinance loan and has become increasingly popular since its appearance about twenty years ago. (badcreditloanservices.com)
I have considered using this strategy in the past but didn't realize they don't do cash out refinancing on 5 - 10. (biggerpockets.com)
Current rates for cash out refinancing and home equity loans change constantly, but are very attractive at this time. (themortgagereports.com)