Take Cash Out
Would you like to have money to pay off credit cards and other high interest debt,
finance home improvements, buy a new car, finance a second home purchase, pay a college tuition or even go on vacation? If
so, perhaps a cash-out mortgage refinance is for you.
Typically, you may be able to take out up to 75% of the value
of your home, but with some options this may rise to 90%. Also, unlike borrowing on credit cards, which utilize compound interest
calculations, mortgages use simple interest, which may save you significant interest. Moreover, interest paid on mortgages
is tax deductible (see your tax professional to evaluate) and this may result in additional savings.
To have one of
our lending partners help you evaluate how to CASH OUT, simply fill out our 1 Step
Eliminate Mortgage Insurance
If you purchased your home with less than 20% down, you probably
have a monthly mortgage insurance payment along with your principal and interest. But, since your purchase, you probably have
increased your equity percentage. In fact, because of rising home values, you may have exceeded the 20% figure simply because
your home has become more valuable. Unfortunately, you may not be able to cancel your mortgage insurance yet.
A home
loan refinance to eliminate mortgage insurance should be designed to not only get a loan without mortgage insurance, but also
to find a rate that is lower than your current loan. The ideal situation would be to reduce your rate by more than just the
cost of your monthly mortgage insurance payment alone.
To have one of our lending partners help you evaluate how you
might be able to eliminate mortgage insurance and reduce your rate
