Adjust your loan to improve your interest rate, lower monthly payments, or decrease the life of loan.
Put Your Equity to Work!
If you have equity in your home, you might be sitting on hundreds of thousands of dollars in property ownership. Don’t let that equity sit idle when you can put it to work for your future by using cash-out refinancing. From investments to a luxury vacation home, cash-out refinancing can bring a wide variety of benefits.
Instead of letting your equity sit still, turn it into investments that can grow in value. Money from cash-out refinancing can be used to purchase stocks, mutual funds, bonds, and other investment options.
If your home needs expensive repairs, but you simply don’t have the cash on hand, cash-out refinancing can provide the funding you need. It can also be used to upgrade and enhance your home through projects like kitchen and bathroom remodeling.
Vehicles are expensive. Whether you need to repair your current car or truck, or it’s time to purchase a new vehicle, proceeds from cash-out refinancing can support your purchase.
Need another home in a different area, perhaps for work or to be closer to family? With proceeds from cash-out refinancing, you can fund a down payment for a second house.
If you are tired of booking reservations at crowded resorts, it may be time to purchase your own personal sanctuary. Turn your home’s equity into a down payment for a vacation home and enhance your vacations and your lifestyle!
The specific details of refinancing will vary, but you’ll generally need to be in good standing on your loan (little to no late payments) and have a high amount of equity, at least 20%, although this can be higher. Talk with your lending agent to learn more about cash-out refinancing requirements.