Get Cash for up to 100% of the Market Value of Your Home

Did you know there are cash-out refinance options that allow you to borrow 100% of the market value of your home? I know what you’re thinking, “No way! What’s the catch?”... and the truth is there IS a catch - you must be active-duty military or a veteran.?

If you’re not active-duty military or a veteran, there are still great options allowing you to borrow up to 80% of the market value of your home! To learn more about how you can get a cash injection into your finances check out my recent article, Get a Cash Cash Injection for the Holidays.

Regardless of if you’re active duty or a veteran or you’re a civilian, you may be wondering how you know if a cash-out refinance is right for you. Let’s dive into the top 5 reasons you may want to consider learning more.?

Top 5 Reasons You May Want to Consider a Cash-Out Refinance

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1. Wasted Money on High-Interest Debt?

If you’re paying monthly on high-interest debt, a cash-out refinance may allow you to pay it off at much lower rates - saving you? - sometimes up to thousands over the lifetime of the debt. Since credit card rates average 14-28% interest, you could easily cut your wasted spend (money paid on interest) in half.?

2. Debt Consolidation

Lowering your monthly expenses and reducing the number of bills you pay each month can take a lot of stress off your day-to-day life. If you have multiple credit cards and loans at higher interest rates, a cash-out refinance may be the perfect option. You can use your equity and consolidate all your debt into a new fixed-rate mortgage that could save you over $1,000 like it has for some of the other clients I’ve helped.

3. Large, Upcoming Expenses

How many projects could you check off your honey-do list if you had an additional $500-1000 per month?

What home improvements could you finish? What kind of nest egg could you build? Which upcoming expenses, like college tuition, could you plan for if you could make a massive dent or eliminate your monthly debt payment altogether???

Why not take advantage of the equity in your home?

4. A Fast Way to Fix Your Credit

By getting a cash-out refinance to pay off your debt, not only could you massively cut your interest down, but your credit score will likely get a huge boost as well because your credit utilization will decrease significantly as you pay your debt down.?

5. Keep More of Your Money with Tax Deductions

Take advantage of the interest deduction on your taxes! How? It’s simple. If you plan to use your cash-out refinance for home improvement and projects that meet the IRS eligibility requirements, you could keep even more money in your pocket come tax time.?

*Consult your tax adviser*

How to Refinance with NO Appraisal or Income Verification

If you identify with any of the top five reasons for a cash-out refinance, contact me today. Remember, most cash-out refinance programs allow you to borrow 80% of the market value of your home. But if you’re active-duty military or a veteran you may be able to utilize up to 100% of the market value of your home. Plus, let me just mention that if interest rates drop 6 months after you close, the? VA has a streamlined refinance that requires no appraisal or income verification.? That’s right, no appraisal, no documents.?

Keep in mind, since everyone’s situation is different, the best way to find out if a cash-out refinance makes the most financial sense for you and your family is to contact a trusted mortgage professional.?