Take Advantage Of Your Home Equity
A cash-out refinance enables borrowers to leverage the equity they have in their home by replacing their existing mortgage with a larger new one, in exchange for cash to pay for things like home improvements, credit card debt, college and more.
Cash-Out Refinance Benefits
- Great source of funds to reach other financial goals
- Potential to negotiate term of the loan
- Enables borrowers to switch from an adjustable-rate to a fixed-rate loan
- Can reduce interest rates
Cash-Out Refinance Requirements
- Debt-to-income ratio below 50%
- Adequate amount of equity available in property
How much cash can you get from a refinance?
The amount of cash available from a cash-out refinance depends on the value of the property and what you currently owe on your mortgage. Borrowers need to have some equity in their home, and an appraisal may be required.
Why American Independent Mortgage for a Cash-Out Refinance?
- Reduced paperwork
- Online Process
- Ability to track application status
- Consistent support throughout the loan process
- No hidden fees.