Cashing out refers to the refinancing of a loan where the borrowers will borrow against the available equity on their home.
What are the possible benefits?
By cashing out on your home, you can obtain cash on the value of your own home to pay off debts or upcoming expenses. The refinance transaction might also provide you with a better mortgage loan interest rate that will save on your monthly mortgage payments during the loan.
How can we help?
If you are looking for this type of refinancing, Preferred Rate can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes and Non-owner occupied homes, with competitve rates.