Cash Out Refinance

Cashing out refers to the refinancing of a loan where the borrowers  will borrow money on their own home. If a home is appraised at $100,000  and the borrower's outstanding mortgage loan is $60,000, it is possible  to enter into an 80% cash-out refinance transaction for a loan of  $80,000 (80% of $100,000). The new mortgage of $80,000 will pay off the  $60,000 loan and leave $20,000 cash-out to the borrowers. 

What are the benefits? 

By cashing out on your home, you can obtain cash on the value of your  own home to pay off debts or upcoming expenses. The refinance  transaction can also provide you with a better mortgage loan interest  rate that will save on your monthly mortgage payments during the loan.  And it's tax-deductible. 

How can we help? 

If you are looking for this type of refinancing, American Nationwide Mortgage can  find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes and Non-owner occupied homes, with low, affordable rates.

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