REFINANCE – CASH OUT
As with a normal refinance, there are many reasons to refinance, lower your rate, lower your payment, remove monthly mortgage insurance, shorten your term or a Rehab refinance to do improvements to your home. In addition to these a Cash Out refinance is often used to lower total monthly debt by paying off High Interest Rate Credit Cards or Student Loans or doing home improvements to increase the value of your home or other investments or just take that long deserved Vacation. There are many reasons to take cash out on your mortgage as there are people. One of the biggest changes to Cash Out Refinances is that you don’t have to go back to a 30 year term. Our lenders allow you to customize the term from 11 years to 29 years, your choice. So if you have 22 years left and want to do some home improvements, get the cash, do the improvement, but keep the term @ 22 Years and still save.