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What is a cash-out refinance?

February 16th, 2022 12:41 PM by Holly Ecimovic

A cash-out refinance is a type of mortgage that monetizes the equity you have in your home.

It's a great idea if your home's value has increased since you purchased the home. It's also a good option for you if you have more than 20-percent equity in your home. 

Do you plan to use the funds to reinvest in the home, or to pay down expensive debt, such as credit cards? That's a great idea!

If you are able to secure beneficial new terms on a mortgage, such as a lower interest rate and lower monthly payments, our team here at Contemporary Mortgage Services, Inc. can help. Call us today! 407-834-3377.

Related content: What to know about debt ratios when financing your home in Florida

Posted by Holly Ecimovic on February 16th, 2022 12:41 PM


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