What is a Cash Out Refinance?
Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is a Cash Out Refinance?
A Cash out Refinance is when you replace your current mortgage with a new loan that allows you to pay off your current balance and uses the available equity in your home to give you additional funds for other purposes such as home improvement, debt consolidation or home repairs. This might also be a great option for those looking to lower their interest rate.
If you have any questions on doing a cash out refinance, then please contact us here at Morgan Financial for sound advice.
Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! So please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!