Refinancing and taking out cash has long been a means to extracting equity from a home. Through each successful mortgage payment, equity builds up. Home value appreciation also builds equity. Borrowers who are able to put refinancing to productive use can see many positive outcomes. These include:
A lower mortgage rate
A lower mortgage payment
Paydown of other high-interest debt
Acquisition of other investments with the cash out
Shorter duration of mortgage term
Ask an expert at MortgageLoan Corp. We specialize in cash-out refinancing.