Just like standard refinancing, cash - outs come with extra closing costs that will eat into the cash you withdraw. (valuepenguin.com)
If the sellers don't want to pay extra closing costs at your originally offered price and you can qualify for a larger loan amount such as $ 206,000 (3 percent closing costs would be $ 6,000), they may be willing to pay your closing costs at the settlement table because the sellers would be repaid with the larger home price. (mortgageloanplace.com)
However, if the extra closing costs are less than your interest savings over the course of the loan, then the lower interest loan may be a better deal. (shoprate.com)