Why A Cash-Out Refi Makes Sense For You

With home values still rising, there are many options that homeowners have with their equity. Here are 3 reasons why a Cash-Out Refinance would make sense for you.

  1. Finance Essential Home Repairs & Upgrades. Keeping your home in good working condition is essential to holding its value. Energy-efficient upgrades can also be a great way to reduce costs while increasing value. Cashing out can pay for these improvements under an affordable interest rate.

  2. Pay-off & consolidate high-interest debt. Student loans and especially credit cards tend to have higher interest rates (sometimes upwards of 20%!*). Historically, mortgage rates tend to be substantially lower. Cashing out and consolidating your debt into your mortgage can help lower your interest rate.

  3.  Investing in yourself. Warren Buffet once said, "The best investment you can make is in yourself." From earning a degree to starting a business to purchasing a second property to rent out, a cash-out refinance can be a great way to pay for ways to invest in yourself or improve your overall financial situation.

* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.