Get cash to use for any purpose

 Create a separate mortgage to keep your current low rate

 Get access to a line of credit to access in the future

 Pay off high interest debt (credit cards, auto loans, etc)

 Eliminate PMI or Mortgage Insurance

 Lower your interest rate

 Lower your monthly payment

 Change how long before your mortgage is paid off

 Get cash to make repairs or renovations to your home

 Get money for a down payment of another property