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Cash-Out Refinance

On a "cash out" refinance, you simply refinance for more money than you owe on your mortgage, then get the difference in cash. 

For example:  Marty and Tina refinanced $125,000, but only owe $100,000 on their home.  They'll receive the $25,000 difference, which they'll use to pay off a high-interest car loan they took out, and to put a new roof on the house.

Cash out refinancing makes sense when you want to consolidate debt, pay educational expenses,investing or pursuing business ventures.

Cash Out Refinance: Advantages

→ Tax deductions:  Paying off non-deductible expenses with tax deductible dollars can save you thousands of dollars a year.

→ Your money, your wishes:  Refinance loans don't have to only go toward house-related expenses, though they can.  Remodel the bathroom or buy the minivan—it's up to you!

→ Flexible payments:  Monthly minimum payments are low.  Make larger payments when you can, and minimal payments when cash flow is a little tight.

→ No upfront costs:  Your closing costs can be financed in your new loan.

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Ready to get started? Simply complete the form below and one of MortgageEase's expert loan counselors will contact you within 1 hour to complete your paperwork and start the Pre-Qualification process.

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