Cash-Out RefinanceA cash-out refinance takes advantage of the equity you’ve built in your home and gives you money back by refinancing into a larger mortgage. In other words, you are able to borrow more than you owe on your current mortgage and pocket the difference.
What you need to know about cash-out refinancesA cash-out refinance can help you feel financially empowered by allowing you to use the equity from your home to get cash back. You can use the money received to do whatever you'd like, including paying medical bills, consolidating or paying off debt, or even going on your dream vacation.
Cash-out refinances are ideal when the overall value of your home has increased. However, cash-out refinancing can also be done if you have paid a good amount of your current mortgage down and have built a significant amount of equity. A cash-out refinancing increases the principal owed on your mortgage.
If you do not need cash back and want to refinance to reduce your monthly mortgage rates, a rate-and-term refinance might be your answer. Speak to a Premia mortgage consultant today to go over your options.
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Since 1987, Premia Relocation Mortgage has built a customer-centric service model based on two principles - great people and industry-leading technology. We combine a knowledgeable mortgage team with an interactive mortgage application to make the mortgage process easy.
We listen; our experienced team averages over 15 years in the mortgage industry and can offer choices fitting the needs of all types of buyers. They will treat you like family and strive to exceed your expectations.
Our DigitalMoveTM technology eases the process. With anytime-access, you will not wonder about where you are in the mortgage process.
- Pre-purchase approvals that bring power to the negotiation table
- Enhanced Security during the mortgage process
- Electronic verification of employment, income and assets
- Waiving the need for an onsite appraisal for qualifying buyers
- DigitalMoveTM eClosing *DigitalMoveTM eClosing availability based on state and closing agent.