Cash-out refinancing puts money where you need it most: in your pocket. Improve your financial situation with cash-out refinancing. You can use up to 80% of your home equity to cover significant expenses. Some of these include paying off debt, gaining emergency capital, buying a second home or investment property, taking a vacation, and more.
Want more information or need some advice about cash-out refinancing?
Contact the refi experts at Concord Mortgage. We can help determine whether cash-out refinancing is right for you and fine-tune the details if so.
Contact us today for a free consultation.
HOW DOES IT WORK?
As your home accumulates equity through the years, cash-out refinancing utilizes it to produce cash in exchange for an increased mortgage rate. Since it is not a separate (or new) loan, cash-out refinancing replaces the original mortgage. Thankfully, the rates are generally lower than home equity loans to ensure the mortgage can be paid off, home repairs can be made, etc. However, borrowers are required to cover any closing costs. Once everything is finalized, a new mortgage will be established.
Concord Mortgage is a mortgage lender/broker you can trust. Whether you’re looking to purchase a home, refinance your existing mortgage at a lower rate, tap into your home’s equity to make home improvements, or consolidate debt, we have the best options to fit your needs. We provide various services to assist you in the mortgage process such as managing, providing information, and consulting. Call us anytime at 517-304-3669 or visit us on our website at www.concordmortgageinc.com today.