Refinance & Cash-Out in MassachusettsChris Galli & The Galli Team
Know your numbers before you refinance. Our Worcester office team runs conventional, FHA and VA refinance and cash-out options side by side, so you can see how much equity you can reach and how long it takes to earn back your closing costs.
Answer a few quick questions and a loan officer will map your refinance options.
Prefer to talk? Call 941-529-1040 or book a call.
Who helps Massachusetts homeowners refinance or take cash out?
Chris Galli, Region Manager at Novus Home Mortgage (NMLS #13152), and The Galli Team help Massachusetts homeowners refinance and take cash out with conventional, FHA, VA, bank statement and DSCR loans from our office at 8 Norwich St, Worcester, MA 01608. Conventional and FHA cash-out refinances on a one-unit primary home generally cap the new loan at 80% of the home's value. VA allows more.
What should you know before a Massachusetts cash-out refinance?
Conventional: 80% on a one-unit home
Conventional cash-out on a one-unit primary residence tops out at 80% of value. It's 75% for a 2–4 unit primary home or a second home, and 70% for a 2–4 unit investment property.
Conventional seasoning
For a conventional cash-out, at least one borrower generally must be on title for 6 months, and a first mortgage being paid off must be at least 12 months old, with some exceptions.
FHA cash-out: also 80%
FHA cash-out refinances are capped at 80% of value and usually require at least 12 months of ownership. They come with a new 1.75% upfront mortgage insurance premium plus annual MIP.
VA cash-out: up to 100%
VA allows cash-out up to 100% of the home's value, including the funding fee, but many lenders cap it at 90%. The funding fee is 2.15% for first use and 3.3% after, unless you're exempt. You must live in the home.
Break-even is simple math
Divide your closing costs by your monthly savings to see how many months it takes to earn them back. If you plan to move before then, a refinance may not pay off.
Self-employed or investor?
Bank statement and DSCR loans can refinance too. See self-employed loans and DSCR investment property loans.
Which refinance fits your goal?
Lower your payment
A rate-and-term refinance replaces your current loan without taking cash. FHA Streamline and VA IRRRL options can simplify refinancing an existing FHA or VA loan.
Cash for repairs or updates
Many Massachusetts homes are older. A cash-out refinance can fund a roof, heating system or other upgrades with one loan instead of two.
Pay off higher-interest debt
Rolling credit cards or other debt into your mortgage can lower your total monthly bills, but it stretches that debt over a longer term. We show you both sides.
Leave FHA mortgage insurance behind
If you have an FHA loan and have built equity, refinancing to conventional may remove FHA MIP. Whether it makes sense depends on your rate, equity and costs.
How much cash could an 80% cash-out reach?
On a conventional cash-out for a one-unit primary home, the new loan can be up to 80% of value. Here's the math before closing costs. Your appraisal and balance will differ.
| Example home value | $550,000 |
| 80% maximum new loan | $440,000 |
| Current loan balance | $280,000 |
| Cash available before closing costs | $160,000 |
| Same home at 75% (2–4 unit primary) | $132,500 |
More ways we can help
How much cash can I take out, and when do I break even?
Enter your home's value, what you owe, and the maximum loan-to-value for your loan type. Leave "Cash you want" blank to see the most you could take. Then add your closing costs, your current principal and interest, and a rate you've been quoted to see your new payment and break-even point.
The rate box is blank on purpose so you use your real quote. Taxes and insurance usually stay the same, so they're left out. Not a loan offer. All loans subject to credit approval and appraisal.
I've been in this industry for over 29 years, and I started The Galli Team for one reason: too many good people were being told "no" by lenders who didn't know how to structure their deal.
Our Worcester office team helps Massachusetts homeowners decide whether to refinance, take cash out or leave a good loan alone. We compare conventional, FHA, VA, bank statement and DSCR options, show the break-even point in plain numbers, and tell you honestly when waiting is the better move.
Why Massachusetts homeowners refinance with us over big banks
Most lenders have one playbook. We have dozens, built for real-world situations banks won't touch.
| Big Banks & Online Lenders | The Galli Team ✦ | |
|---|---|---|
| Response time | 24 – 72 hours | Within 2 hours |
| Conventional, FHA and VA compared side by side | Sometimes | ✓ |
| Break-even math before you apply | Rarely | ✓ |
| Bank statement refinance | ✗ | ✓ |
| DSCR / investor cash-out | ✗ | ✓ |
| Denied elsewhere? | No second look | We restructure your file |
| Lending states | Varies | All 50 states |
Don't take our word for it.
Real people. Real loans. Real results.
"This is my 5th property purchase and the smoothest transaction by far! I will be using Chris as my go-to mortgage lender from now on."
"Chris, Julie and Rosa were very helpful purchasing my vacation home in Florida. Available all hours. Will definitely use them again!"
"Chris and his team were great to work with. Always available, kept us updated throughout. We closed early with no surprises. Highly recommend!"
Massachusetts refinance questions, answered.
No vague answers. We explain exactly how this works before you ever fill out a form.
Get My Free Loan Plan →Sources: Freddie Mac Seller/Servicer Guide, maximum LTV ratios for cash-out refinances (freddiemac.com); Fannie Mae Selling Guide B2-1.3-03, cash-out seasoning (summary); AmeriSave, cash-out LTV limits by loan type (amerisave.com); NerdWallet, FHA cash-out refinance, Dec. 2025 (nerdwallet.com); Veterans United, VA cash-out refinance, Oct. 2026 (veteransunited.com); VA funding fee chart (va.gov). Checked October 2026; guidelines change, so confirm with us.
Ready to see your refinance numbers?
Get a side-by-side refinance plan with your cash, payment and break-even point. Guidance over gimmicks.
Answer a few quick questions and a loan officer from our Worcester office team will map your refinance and cash-out options.