Key Takeaways You get a new mortgage that's larger than your existing one, take the difference in cash, and start making payments on the bigger loan. Most lenders cap the amount at 80% of your home's appraised value. If you've ever looked at your credit card statement and then at your home's equity, you've probably wondered if a refinance could help you pay off your credit card debt. That's what many homeowners are doing, according to a 2025 Consumer Financial Protection Bureau study. But plenty of those bo ...