Cash Out Refinances

What Is A Cash Out Refinance?

This short video explains in under 3 minutes what most homeowners need to know about cash out refinances. In addition to answering the question, "What is a cash out refinance?", we look at some examples where a cash-out refi can be effectively used; such as to facilitate a home improvement project, permit monthly savings through debt consolidation or "buy out" a spouse in a divorce situation.

 

The guidelines for pre-approval and qualifying for a cash out refinance are covered in this video, as is a comparison between a cash out and a rate and term refinance. We also go over how mortgage interest rate quotes will be affected by cash taken out at close of escrow, and the loan-to-value (LTV) or equity position in the home. 

 

 

Thank you!

Robert J. Spinosa Home Loan Professional DRE: 01297944 NMLS: 22343 591 Redwood Hwy. Suite 1150 Mill Valley, CA 94941 877.270.5959 Toll Free 415.367.5959 Cellular 415.366.1590 eFax rspinosa@rpm-mtg.com