Mortgages

Cash-out Refinance

Since the economy is unstable I was reluctant to take out a second mortgage on my home. Now, I couldn’t be happier with my decision. I feel less worried about my finances and we can finally afford to travel out of the country this summer.

Jerry M., Hanover, MA

Cash-out Refinance

Get Extra Cash and Consolidate Your Debt

Using the equity in your home you can add a new deck, install a pool, remodel your kitchen, pay for college or take a much-needed vacation! It’s up to you.

Cash out refinance is another option you have available as a homeowner. The money you cash out is simply rolled into a new first mortgage. Some homeowners choose to borrow the money as part of a home equity loan or a second mortgage.

Benefits of a Cash-out Refinance vs. Home Equity Loan:

  • Faster access to cash. Get your check within 7 days of settlement with a Cash-out Refinance.
  • Lower rates. Because a home equity is a second mortgage, rates are often higher.
  • Easier to manage. You just have pay one, low monthly payment – not several.
  • Interest is tax-deductible on the new first mortgage.

Cash out on your home equity to consolidate bills or use the extra cash to remodel your home, pay college tuition, go on a vacation, buy a car or install a pool.

Get a free quote:
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Debt consolidation:
Refinance and consolidate bills