Tag: cash-out refinance

A cash-out refinance is an excellent way for you to cash in on your home’s equity. By taking a bigger mortgage and cashing out the difference, you can get your hands on a decent amount of money. Even though the application for an Arizona mortgage refinance is almost the same as the one you did for...

With proof of employment being an essential qualification for a cash-out refinance, the self-employed, seasonally employed or unemployed can dread applying for such a mortgage. Proof of work shows that a borrower has a stable income. Therefore, lenders are assured of their ability to repay the loan....

Of course you can sell your house after a cash-out refinance. Although, it can be beneficial to plan out accordingly. It can be very tempting to sell your home after a cash-out refinance. With the money taken from the home equity, you can perform repairs or even upgrade your home and increase its...

Imagine being able to consolidate debt, pay off your kid’s college tuition without a student loan debt or even find money to invest and save for retirement. These are some of the benefits homeowners can get from a cash-out refinance. But before getting started with applying for a cash-out refi,...

Closing costs are one of the factors that determine the money you will get from a cash-out refinance. They are usually 3% to 5% of the new loan amount, and you have the option to pay them right away in cash or roll them into your new loan. Cash-out refinance closing costs differ from one lender to...

After figuring out what a cash-out refinance is and the financial benefits it can offer, one may be left with one important question – how much can I get from a cash-out refi? For most conventional cash-out refinance loans, homeowners are only allowed to borrow at most 80% of their home value. This...

The procedure of closing a cash-out refinance isn’t very different from that of a traditional mortgage refinance. It’s a fairly simple process, and as long as you meet all the requirements, you should have a simple time applying and getting a cash-out to refinance.    Step 1 – Find Out the Minimal...

The option to tap into your home equity and get paid cash by taking a bigger mortgage seems like an excellent idea. However, it’s important to think things through when making any financial decision. If you have been building your equity for a while, you may be able to get a lot of money from...