Monday, October 1, 2018

5 Questions: Is A Cash-Out Refinance Right For You

They say in life that "Timing is everything".  

Knowing what to do in today's market environment can be confusing.  

 Home values have appreciated in most parts of the country and homeowners are sitting on over
 $6,000,000,000,000 in available home equity. The decision to tap into your home's equity is not
 one that should be taken casually and made without careful consideration.That being said, here
 are 5 situations when it may make sense to tap into your increased equity.

Do You Have High Interest Credit Card Debt?

 Interest rates on credit cards are typically much higher that mortgage rates, often by as much
 as 10% or higher. A cash-out refinance can allow you to pay off high interest-rate credit ard 
 debt and still save money every month. 

Are You Dreaming Of A New Kitchen Or Bathroom?

Reinvesting your home equity back into your house by making home upgrades is a win-win. 
Updating your kitchen, remodeling your bathroom or finishing your basement are all things that 
your family will get to enjoy while at the same time can make your house more valuable without
taking out a second mortgage.

Do You Have Enough Saved For A Rainy Day?

Uncertainty is a part of life. Taking some money out of your house and putting it in the bank
for a rainy day is something to consider. Too often, people find themselves out of a job and 
unable to access the cash in their home when they need it most. Taking steps while you are
employed and can qualify for  a new mortgage to set aside some of that equity for a rainy day
might be a smart move for you.

Do You Have A HELOC?

Pay off your existing home equity line of credit (HELOC) with a Cash-Out Refinance . As
interest rates climbs, so too do the rates on HELOCs, by consolidating with your first mortgage
today you fix the rate in for the life of the loan. No more worry about increases in the prime rate.

Are you living the life you want to live?

Is a lack of cash keeping you from finding your passion or purpose in life? Do you dream of 
continuing your education or starting a business? Maybe there's a bucket list family vacation 
you want to take.If you have a need for some cash and have access to equity due to improving 
home values, you can take that cash for any purpose, with a low fixed rate. 

No sales pressure, just an objective review.

If you answered yes to any of these questions and would like to learn more about your options, 
please Contact Us.  We're happy to answer any and all of your questions. 

No comments:

Post a Comment