Refinance? It's Easier Than You Think.
There are several options when you are looking to refinance, whether its removing PMI (Private Mortgage Insurance) or lowering your current interest rate, refinancing is a great option. A cash-out means you refinance your mortgage for more than the current outstanding balance and keep the difference between the old and new loans. This is an easy way to access money you already have in an liquid asset to pay off large expenses such as Home Improvements, Debt Consolidation, Student Loans or just to have extra money set aside for emergencies. These are the benefits of refinancing:
|Payoff credit card debt|
|Payoff a Home Equity line of credit|
|Remove PMI (Private Mortgage Ins)|
|Lower term and interest rate|
|Estimated Closing 3-4 weeks|