What are the Benefits of a Cash Out Refinance?
Take advantage of a Cash-Out-Refinance to have extra income for the things that matter most! As you pay your mortgage your home begins to build wealth and equity. Refinance today to be able to tap into the wealth you've been growing.
Here are a few of the most popular reasons why homeowner’s choose to refinance their mortgage with a Cash-Out-Refinance option.
1.) Need to prepare for the arrival of a new baby? -
2.) Do you want to do home renovations or improvements in mind?
3.) Are you interested in purchasing a 2nd home?
4.) Do you have children going off to college?
5.) Would you like to consolidate your debt?
6.) Do you have unexpected expenses or an emergency?
If you have ever asked yourself any of these questions then a Cash-Out-Refi might be for you. It will allow you to free up funds to pay for events in your life.
Consider refinancing with NOVA ® Home Loans. Contact your NOVA Loan Officer for details and a free, no obligation pre-qualification to start finding discounts and savings on your mortgage.
How does a Cash-Out-Refi work?
By refinancing with a Cash-Out-Refi your new mortgage will include the original balance of the home plus an additional amount of funds you would like to take out (cash). Your new mortgage payment will be towards the balance of the entire loan (mortgage + additional funds). You will essentially be borrowing money at the same time as you are refinancing your mortgage.