If you've owned a home in Washington for several years or more, you might have significant equity by now. And you might be wondering how to convert some of that equity into cash. This can be done by using what's known as a cash-out refinance loan. But like all financing strategies, this one has certain pros and cons you need to know about. This guide explains the various pros and cons of using a cash-out refinance in the state of Washington. It will help you make an informed decision about whether it's right for you.