Fast Facts
What is equity, and how can it help me?
If the current value of your home is greater than your current mortgage balance, you have home equity. The more equity you have, the more money you may be able to get from a cash-out refinance.
Can a Cash-out refinance lower my monthly debt payments?
Yes! You can make one low monthly payment instead of several and pay less overall every month.
What about closing cost?
It's possible to add the cost associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing.
Cash-Out Refinance Advantages
Streamline Your Bills
With a cash-out refinance, you can pay off high-interest debt like credit card balances and student loans. By paying off your high-interest debts faster, you can improve your credit rating.
Stay at Home Longer
Planning your staying in your home? Use the cash for renovations that can add value to your home. Bathrooms, Kitchen, Outdoor decks -now is the time to do it.
Explore More Options
Want to pay for collage tuition, add to your retirement fund or invest in a summer home?
With a cash-out refinance, you get the freedom you need.