Housing Market Update
Cash Out Refinance
- Due to historically low mortgage rates, now is a great time to refinance your home
- A Cash Out Refinance allows you to take advantage of the equity you built up in your home
- You can draw money out for whatever reason you like, which is less expensive than other forms of financing
- Renovations are the most common reason for a Cash Out Refinance
- Your lifetime mortgage advisor can answer any questions you might have on the topic
- If you cannot afford to buy a new home, but still need to make renovations to the home you currently own, a Cash Out Refinance is perfect for you
- A renovation loan is based on the value of your home after renovations have taken place
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