Home values are through the roof and rates are still very low. Higher home values and interest rates as low as they are means you may be able to refinance with some cash out to pay off high interest debt. You might even be able to reduce your monthly mortgage payment at the same time.
If you don’t have high interest credit card debt to pay off, it might be a good time to get a jump start on summer projects around the house. Maybe it is a good time to consider the family summer vacation you cancelled last year. Every situation is different…and we are here to help.
How does a cash refinance work? When homeowners secure a cash-out refinance, their mortgage is replaced with a new loan with an amount higher than the current loan balance. The homeowner can then withdraw the difference of the two loans as cash.
There are many aspects to a cash-out refinance. If you have questions about the process, or need help determining if this is right for you and your family, feel free to reach out to Scott Bennett at 503-703-4699 or firstname.lastname@example.org to talk about your current situation.