Cash Out Refinance Home Loan

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Cash out refinance

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Refinance into a lower monthly payment for home improvements, pay off debt or take a vacation.

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Home » Cash Out Refinance Home Loan

Cash out refinance home loans to help you renovate, pay off debt or go on a vacation.

What Is A Cash Out Refinance Mortgage

  • A cash out refinance Cash-out mortgage refinancing lets you refinance your mortgage, borrow more than you currently owe and keep the difference as cash. It’s one way to unlock the equity, or ownership, you’ve built in your house.
  • The money from cash-out home loan refinancing is usually put back into home improvements, but some people also use them to offset the upfront costs of refinancing or cover personal expenses.

Key Benefits Of A Cash Out Refinance Loan

  • Home improvements will increase your homes value
  • Payoff high interest credit cards, consolidate loans and have a lower monthly expense payment
  • Pay for critical life events like school or medical bills
  • Interest Rates Drop and you can Re-finance, Cash out and still have a lower total monthly mortgage payment
cash out refinance

How Does A Cash Out Refinance Home Loan Work

  • Let's say your home is worth $600,000 and the balance of your mortgage is $300,000, that leaves you $300,000 in equity. You have 50% equity in your home.
  • If you would like to retain 20% of the equity in your home 20%=$120,000 or $480,000 less $300,000, there is $180,000 of cash equity that you are eligible to borrow.
  • When considering a cash out refinance remember to take into account your homes LTV (Loan to value).
  • LTV is the ratio of your current mortgage balance compared to the market value of your home, as determined by appraisal and your DTI (Debt to income)ratios. DTI is the percentage of your gross income that goes into repaying any debt, such as monthly mortgage payments, student loans and credit card balances.
  • If you would like to retain 20% of the equity in your home 20%=$120,000 or $480,000 less $300,000, there is $180,000 of cash equity that you are eligible to borrow.
Call today for a FREE Consultation and see what your home is eligible for. 800-826-5077.

CASH OUT REFINANCE HOME LOAN WITH A REVERSE MORTGAGE

reverse mortgage
Would you like to pull all of the equity out of your house and keep your home.  The new reverse mortgage lets you do just that without the risk of losing your home.

Do you qualify for a Reverse Mortgage?
The four most important borrower rules for reverse mortgages are as follows:
  • You must be 62 years of age or older.
  • You must own your home.
  • You must own your home outright, or have a substantial amount of equity.
  • You must live in the home as their primary residence.
  • You must complete a financial assessment.
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INVESTMENT LOAN PROGRAMS

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DSCR LOAN

Taking the first step on the real estate road to passive income and wealth? A rental property loan at a great rate can give you the momentum you need to grow your real estate (Buy, Repair, Rent, Refinance, Repeat (BRRRR) business.

15-30 DAY CLOSE

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FIX TO FLIP

Looking for a fix to flip or fix to rent bridge loan. Up to 90% of the purchase and 100% of the rehab. Closing as fast as 5 days!
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CASH OUT REFI

Looking to scale your real estate investment portfolio. Cash-out & refinance into a 30 or 40 year loan.. Closing 30 days!
Use your additional capital as a down payment to your next rehab project.

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CONSTRUCTION

Looking for a ground up construction loan. Are you a builder or investor building a spec house or a P.U.D.
Discuss your ground up scenario with us today and take advantage of the housing shortage.

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