Get most cash out of my homes equity
It’s always a let down when a homeowner heads to the bank to receive a cash out refinance and
Know the limits of conventional cash refinances
A cash out refinance is a go-to option in situations where homeowners require a source of retaining a large sum of money. A popular options is of course the equity which has been built over the years of owning a home and it truly is a reliable source. However, the amount of money needed may be over the limits of current cash out refinance programs… which is usually 70-75% of the homes value, depending on the bank or lender.
Which means if you owe $300,000 and your home is worth $750,000 the total you may take out is 225,000.
Balance: $300,000 + $225,000 (cash out amount) = $525,000 (70% of $750,000)
Our mortgage programs allow up to 90% of your equity
A home owner that expects to receive use the full potential of their equity is quickly frustrated when they hear 70%. The solution to getting the most of your homes equity is our MAX CASH OUT REFINANCE program, which goes up to 85% to 90% of the homes value, up to $625,000, which ever is greater.
Popular reasons for getting a cash out refinance:
- Home improvements
- Debt consolidation
- Paying college tuition
- Down payment for investment property loan
- Consolidate credit card debt with low mortgage rates
Have questions regarding our MAX CASH OUT REFINANCE. Please contact me directly.
