Tap Into Your Equity With Cash-Out Refinancing

Use Your Cash-Out Refinance for Home Improvements

Remodeling your kitchen, bathroom, or other home improvements can add increased value to your home. If you have built up some equity in your home, a cash-out refinance could be the solution to getting these improvements done.

With a cash-out refinance, your existing mortgage is replaced with a new, bigger loan. You can use the difference between the old loan and the new loan to spend on home remodeling, like a swimming pool, a kitchen remodel or a new deck.

Advantages of getting a cash-out refinance:

• Allows you to roll all of your debt into one loan. Instead of taking out a separate loan or putting these expenses on a credit card, you can simplify your debt with one loan and one payment.
• Able to lower the interest rate on your current mortgage. Interest rates may have decreased since you initially purchased your home or your credit may have improved.
• Eligible for a tax deduction. If you use your cash-out refinance to make significant improvements on your primary home, you could be eligible for a deduction for the extra interest with the increased mortgage. Be sure to talk to a tax professional first since taxes could get complicated and laws may have changed.
  
  

Fill out this form to see if you qualify for a cash-out refinance:

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