Florida Cash Out Refinance Rates: What to Expect in 2026
Florida cash out refinance rates in 2026 run approximately 0.25–0.75% higher than purchase rates for the same loan size and credit score. That premium reflects the additional risk lenders take when advancing equity above the existing balance. Knowing when that premium is worth paying is the real question.
Why cash out refinance rates are higher in Florida
Lenders apply a Loan Level Price Adjustment (LLPA) to cash out refinances that doesn’t apply to purchases. The adjustment ranges from 0.375% to 1.0% in rate depending on your LTV and credit score. Higher LTV and lower credit score = larger premium. The best cash out rates go to borrowers with 760+ scores at 60–65% LTV.
When a Florida cash out refinance makes sense
- Your current rate is within 1.5% of the new rate, making the payment increase manageable
- You are paying off high-interest debt (credit cards at 20%+) by converting it to mortgage-rate debt
- You are funding an investment property purchase with the cash proceeds
- You are completing a renovation that will increase property value by more than the cost
When to skip the cash out refi
If your current rate is significantly below today’s market, a cash out refi will raise your monthly payment permanently. A HELOC or second mortgage may access the same equity without touching your first mortgage rate. Run the full numbers before deciding. Read our cash out refi Florida guide for a break-even analysis framework.
For personalized guidance on buying or selling in South Florida, contact the team at Pure Equity Realty. We serve Palm Beach, Broward, Miami-Dade, St. Lucie, and Highlands counties with expert representation and a 1% listing fee.
Onias Derilus is the Broker/Owner of Pure Equity Realty, a South Florida brokerage specializing in 1% listing commissions and free buyer representation across Palm Beach, Broward, Miami-Dade, St. Lucie, and Highlands counties. He holds an NMLS mortgage originator license and founded Mortgage Capital and Verified Title to serve clients through every step of the transaction.