When you build equity in your home, the house can become a source of cash as well as a place to live. With an FHA cash-out refinance, you can tap into your home equity to accomplish other financial goals. There are pros and cons to consider with FHA cash-out refinancing, though. You will want to look at your new interest rate, how much you want to borrow, and the time it will take to pay off your home after a cash-out refinance. In this article: What is an FHA cash-out refinance? An FHA cash-out refinan ...