Housing Market Update

Cash Out Refinance – Home Renovations

  • Current mortgage rates have seen slow increases the last two weeks
  • Cash Out Refinance allows you to use the equity you built up in your home to draw money
  • Commonly used for home renovations, but you can use the money how you see fit
  • Cash Out Refinances have advances over personal loans particularly lower interest rates
  • You can build equity back quickly depending on the renovations you do and can possibly deduct costs from taxes
  • Cash Out Refinances are the easiest to budget for, and you can borrow at a lower rate than a mortgage


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