Cash out today for a better future.
Over time you build equity in your home through market appreciation and/or over time just by making regular payments. You can borrow against this equity by taking a cash-out loan. With a cash-out refinance, you use the equity in your home to get cash. Tapping into your home’s equity is an ideal way to get extra money, and the best part of a cash-out refi is you can use the cash for anything, you choose. You can pay off high interest credit cards, student loans, make home improvements, invest, or even start a new business. Know that you have another option when considering high interest personal loans with less favorable terms. Read below to discover what cash-out refinance is all about, and how to get started with the application process through U.S. Mortgage Funding.
What are the benefits of a cash-out refi?
Save your hard earned money, a cash-out may be used to pay off debt, remodel, or even take a well-deserved vacation. Keep in mind there are also other reasons to consider this option. It’s possible to refinance your existing mortgage and get a better rate than a line of credit. Also, because mortgage rates are typically tax deductible (please consultant with a CPA as everyone's situation is different), there could be additional savings if you put the money you receive toward paying off debt.
How do I know if a cash-out refi is right for me?
If the money is used to consolidate debt and your overall monthly payment is reduced then it makes sense to do a cash-out refinance. Also consider cash-out to pay for educational expenses because mortgage rates are often lower than rates on personal or student loans. In addition, mortgage interest is usually tax deductible.
A U.S. Mortgage Funding Banker can find the loan that’s right for you and guide you through the entire process. And because we’re a direct lender, we’re able to streamline the refinance process and get you the cash you need fast.
Call U.S. Mortgage Funding today at 312-448-8763 to speak with one of our knowledgeable Loan Officers and learn more about your refinance options. Or fill out our no obligation quote form on this page and one of our Bankers will contact you.