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CASH OUT OPTION

So, should you take cash out when you refinance? Most likely you should if your loan to value and your credit scores qualify you for a cash-out at a land you can use for the money. If you can payoff higher interest debt, consolidate your credit cards and debts, or want to finance something that's relatively expensive like college tuition or landscaping, the cash-out option is a great choice.

Talk to our loanteam today to to find out if you qualify for the cash-out option. Before you refinance your loan, there are some important things you need to consider:

There is another type of savings with a short term mortgage. Its always at a lower interest rate. So you combine the lower rate and short term  to pay off the loan and take advantage of the savvy planning that you always dreamed of. Call our loan team today to discuss your options.

Some lenders won't charge you anything extra if you keep within their established loan guidelines of cash out to be below 75% loan to value

Once you push your LTV (loan-to-value ratio) above 75% you will likely pay a premium for the privilege and PMI may come into play since it increases the lender's risk.

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