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Blog Image: A few fun facts regarding Cash Out Refinance

A few fun facts regarding Cash Out Refinance

A cash-out refinance replaces your current home loan with a new mortgage for more than your outstanding loan balance. You withdraw the difference between the two mortgages in cash and put the money toward home remodeling, consolidating high-interest debt or other financial goals. Put simply, if you’ve paid down your current mortgage balance and/or home prices have increased since purchase, you may have equity in your home that you can access via cashout refinancing to use for other expenses, such as funding home improvements, paying for college tuition, or paying off credit cards. ...

November 15th, 2019 A few fun facts regarding Cash Out Refinance