1
Request A Loan
No Cost No Obligations
2
Get A Decision
It’s Fast
3
Get Your Money
If Approved
- Secure
- Simple
- No Obligations
- No Social Security
- Competitive Rates
- Fast Fundings
Mortgage Cash Out
Pay Bills, Have Lower Payments
What is a Cash-out home loan?
Cash-out home loans are refinance loans where the homeowner takes out equity. The equity can be used to pay bills at closing or deposited into your account which is referred to as cash in hand. Lenders usually limit the cash in hand dollar amount based on ltv (loan to value ratio), credit and loan amounts. However, there are usually no limits on the total bills that can be paid-off as long as the borrower’s income is sufficient to justify the increased mortgage amount.
Benefits of a cash-out refinance
One of the more notable benefits of a cash-out refinance is lowering the overall monthly payments by paying off debt such as credit cards that carry a high interest rate. This strategy can lead to additional savings if the borrower is able to deduct the mortgage interest paid when filing taxes. It’s a good idea to discuss this option with your accountant to see if the tax benefits apply to you.
Funds usage restrictions
There are no restrictions as to what the funds may be used for.
Loan types available
There are no restrictions as what type of loan is offered for a cash-out mortgage. 30, 20, 15 year fixed rates and all adjustable rate mortgages should be made available by the lender.
Best Cash Out Mortgage Loans 2019
Get your mortgage and offers reviewed to see if there are better options at maximum loan amounts available. This a no obligation complimentary service. Offering better service and lower interest rate mortgages is our goal.
Schedule your Call
A complimentary service
LATEST FROM BLOG
See our latest articles, recent news and local events
Everything about VA Mortgages and IRRRL
First, let’s look at rate and term refinancing vs. cash-out refinancing. Rate and term refinance: The goal here is to lower the interest rate and monthly mortgage payments. For VA mortgages, this is known as the Interest rate reduction refinance loan (IRRRL). Although you are not allowed to tap into your equity, you can still Read More
How to Avoid Suspicious Lenders When Applying for Loans Online
As the internet continues to grow and dominate our way of life, so do the odds that you get involved with a personal loan scam. There are countless scammers out there who are hoping to capitalize on unsuspecting individuals looking to apply for a loan online. While easily identifying scams can be easier said than Read More