An alternative to home equity loans, cash-out refinancing can provide you a better rate, lower monthly payments, and access to cash at closing.
A cash-out refinance replaces your existing mortgage with a new home loan for more than you owe on your house. The difference goes to you in cash and you can spend it on home improvements, debt.
Refinancing can potentially lower your monthly mortgage payment, pay off your mortgage faster or get cash out for that project you’ve been planning. Today’s low refinance rates Rates based on a $200,000 loan in ZIP code 95464 Home value * Home value $
Background: A recently divorced client received my monthly market update notifying clients that mortgage rates were near 14-month. I quickly restructured to a cash-out refinance to lower her.
A cash-out refinance replaces your current mortgage for more than you currently owe, but you get the difference in cash to use as you need. This calculator may help you decide if it’s something worth considering, and give you a possible idea of a mortgage rate you might have after refinancing.
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