Get Cash From Your Home
If you’re in need of money, whether it's for home renovations, college tuition, or paying off debt, refinancing your home to capitalize on its equity can be a way to get extra cash. Refinancing in order to get cash from your home is known as a “cash out refinance.”
The process of getting money from your home is actually surprisingly simple, and you have two options. You can get a line of credit (Home Equity Line of Credit) or you can refinance your home loan and get additional money at closing (also known as a cash mortgage).
To realize which method of getting cash is best, and which is a better fit for your unique financial situation, contact one of our Home Loan Experts for a free instant rate quote.
What is Home Refinancing?
Home refinancing is obtaining a second loan, or mortgage, in order to pay off your original one. The trick to refinancing is to make sure that the second loan has a far lower interest rate, essentially lowering the costs of your first mortgage. The monetary difference between the first and second mortgages is the equivalent of cash back. You can save hundreds of dollars per month by refinancing your home and obtaining a second mortgage. If you’re in need of money or have bills to pay, this can be a great way to get cash from your home. Your cash mortgage can be used to pay for college tuition, to advance your career with a new degree, to buy a car, to pay off debt, or even to go on that vacation you’ve always dreamt about.
Get an Immediate Payment from Your Home Loan
There are a host of reasons why property holders may refinance to get money from their home. Life is loaded with surprises and in the event you ever confront a situation or event that you didn't anticipate—for example, unemployment, a medical emergency, or something similar, your home’s value can help you make money from your house to pay for these costs. Another of the many reasons individuals refinance is to get money from their home’s value to pay for home renovations. These changes can vastly increase the value of a home and make it more alluring to potential buyers. Perhaps, however, you simply wish to get some extra money to pay for a much-needed vacation, your ideal car, or another dream purchase you’ve been thinking about for a while. With EZ Online Mortgage, cash out mortgage refinance calculator and superb customer support, you can easily find the ideal mortgage for you.
Why Use EZ Online Mortgage for Getting Cash From Your Home?
Our home credit specialists are wherever you are. Since we’re located all over California, you’ll have the added convenience of having your mortgage consultant near you! We’ll work with you to use our refinance cash out mortgage calculator to find the best mortgage for your needs!
Our goal is to bring low rates, customized credit choices and phenomenal customer service to every single one of our clients. Contact us today to see how you can get cash from your home.