Your Home Equity Could Mean Extra Cash
Your Home Equity Could Mean Extra Cash with a Cash Out Refinance
With low rates and rising home values, now might be the perfect time to refinance. Tap into your home’s equity to renovate your home, take a dream vacation, or simply pay off debt. What would you do with the extra cash?
Cash Out Refinance Features
- A cash-out refinance is a new first mortgage, not a second lien loan such as a Home Equity loan or HELOC
- In general, the more home equity you have, the more money your cashout refinance may provide
- Use the extra cash as you need–consolidate debt, remodel, tuition, even buy a second home
Note: By refinancing your existing loan, your total finance charges may be higher over the life of the loan
