Cash Out Refinance
Cash Out Refinancing in Coconut Grove, FL
When you need a large amount of money - for any reason - cash-out refinancing could be a good option for you. A cash-out refinance allows you to receive a new mortgage loan that covers what you still owe for your home but also a little bit extra that you can use for whatever you need.
For example, if your home is worth $100,000 and you still owe $60,000 on your mortgage, then you could get an 80% cash-out refinance loan of $80,000, which would cover the $60,000 you still owe on your home and leave you with a $20,000 cash-out.
At Family America Mortgage Corp. in Coconut Grove, FL, we can provide you with the cash-out refinancing services you need. Get in touch with us to see how we can help you.
Experience a Number of Benefits
You can use the money that you get from your cash-out refinance for a number of different reasons, from a family vacation to paying off credit card debt. The benefit of borrowing from the equity in your home is that you can actually deduct your mortgage interest rate from your taxes.
A cash-out refinance also often improves a mortgage rate, which could actually save you money on your monthly payments. So if you are thinking about taking out a loan, speak with a lender about your options for a cash-out refinance. You could get the money you need while also enjoying many other benefits.
Let Us Help You
If you are interested in learning more about your options for cash-out refinancing, call us at (800) 848- 6112 to speak with a member of our team, or you can fill out the form to the right to request a free consultation. You can also get the process started by filling out a loan application online - just click the button below.