You have choices.
If you’re considering a cash out refinance to cover the cost of home improvements, credit card debt, or unexpected medical expenses, we at American Pacific Mortgage are here to help.
To get cash from your home, you can do a couple of things. You can get a home equity line of credit (Heloc), or you can refinance your mortgage and get extra cash at closing through a cash-out refinance.
What is home equity? Equity is your ownership in your home, or the difference between what your home is worth and what you owe on the mortgages or liens.
You can build and increase the equity in your home in the following ways:
What can a cash out refinance be used for? Anything you want. Make improvements to your home, put money down on a second home or investment property, pay for school, take a vacation, purchase an automobile, fund your retirement … it is your cash, and you can do what you like with it!
A cash out loan with a low interest rate may be a better solution than high-interest credit cards if you have unexpected medical bills, unforeseen expenses, or surprise improvements that need to be made on your home.
How much cash can you get from your home? Our mortgage calculator can show you how much your monthly payments would be with a new loan or additional home equity line of credit. Apply online to get cash from your home today.
Wondering about your options? Our American Pacific Mortgage loan advisors can go over all of your refinance options to help you discover the perfect solution to your cash needs. We will show you the difference between a cash out refinance compared to a home equity line of credit so you can confidently choose the right program for you. Find an advisor to show you how to get cash from your home and guide you through the refinance process.