Is A Cash-Out Home Refinance Right For You
Often homeowners find themselves looking to use equity to cover other expenses but aren’t sure how to best approach the situation. One option that we offer, a cash-out refinance, allows you to replace your current mortgage. In doing so, you create a new agreement, at potentially new rate, new term, and new balance. Your monthly mortgage may even end up being less! With the possibility of lowering your interest rate, while utilizing some equity, you gain complete flexibility; possibly saving money!
What is a Cash-Out Refinance?
By replacing your current loan with a new loan of higher balance, you are requesting a “cash-out” of your equity. The difference in the principal balance of the two loans (old and new) is your “cash-out”. The cash-out refinance allows for new terms to the mortgage (i.e. interest rate, length of term, etc).
Speak to one of our mortgage professionals today about your cash-out refinancing options. Call 833-SKYRIDGE