A cash out refi allows you to refinance your mortgage for more than you currently owe, and then you pocket the difference.
Here is an example: Let's say you still owe $100,000 on a $200,000 house, and you want a lower interest rate. You also want $20,000 cash, maybe to pay off a high interest credit card. You can refinance the mortgage for $120,000. That way, you get a better interest rate on the $100,000 that you owe on the home, and you get a check for $20,000 to spend as you wish.
Contact us now to see if cash out refinance is right for you.
