Cash out Refinance for Home Improvement
If you already own a home, and have some equity, a “home improvement” refinance could be an option for you. Many borrowers use their existing equity to borrow against for home improvement projects. You can do this in 2 ways:
- Cash out refinance of your first mortgage – We can payoff the existing first mortgage with a new LARGER first mortgage, the balance of this larger loan will come to the borrower in the form of CASH, which can be used at the borrowers discretion.
- Home Equity Line of Credit – also referred to as a HELOC, this is not a replacement mortgage, but an ADDITIONAL second mortgage. Equity lines can be more difficult to qualify for, but also are usually less expensive loans in both upfront fees and monthly holding costs
Lets start the application process to determine if one of these loans is right for you. You can begin right now online by clicking on the Apply for a Loan button.
