Why Cash-Out Refinance?
Cash-out refinance loans provide the flexibility and variety so that individuals can meet a diverse range of needs, such as: • Obtaining cash for home improvements or major purchases • Paying off high interest rate debt (credit cards, auto loans, etc.) Moreover, all related closing and financing costs and prepaid items can be rolled into the new loan amount, enabling greater cash flow potential for the borrower. In addition to all the above-mentioned features, cash-out refinance loans may also be customized to allow the borrowers in special circumstances to use the proceeds of the refinance transaction to buy out the equity of a co-owner.
