3️⃣ 𝗥𝗲𝗮𝘀𝗼𝗻𝘀 𝗖𝗮𝘀𝗵 𝗢𝘂𝘁 𝗥𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝗥𝗮𝘁𝗲𝘀 𝗝𝘂𝘀𝘁 𝗚𝗼𝘁 𝗕𝗲𝘁𝘁𝗲𝗿 👍
Have you considered using some of the equity in your home and paying off debt like credit cards or car loans? How about using it to pay for college, or to do some improvements?
When you take "cash out" to use for something else, this is called a 'cash out refinance', and here are three reasons why now is a great time to consider doing one!
✅ 𝗛𝗼𝗺𝗲 𝗽𝗿𝗶𝗰𝗲𝘀 𝗮𝗿𝗲 𝘀𝗼𝗮𝗿𝗶𝗻𝗴 🏡
With the homes around you selling for more money in a housing market that is starved for inventory, your home's value is increasing and giving you more equity. More equity means you can either get more cash out, or you may get a better rate for borrowing much less than your home is now worth.
✅ 𝗥𝗲𝗰𝗲𝗻𝘁 𝗿𝗮𝘁𝗲 𝗮𝗱𝗷𝘂𝘀𝘁𝗺𝗲𝗻𝘁 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀 🎆
Cash out refinances got more expensive last year for most borrowers when additional fees were added by the Federal Housing Finance Agency to cash out transactions. Those fees have recently been removed, meaning you will pay less in fees or see a better rate when taking cash out!
✅ 𝗥𝗮𝘁𝗲𝘀 𝗵𝗮𝘃𝗲 𝗵𝗶𝘁 𝘁𝗵𝗲 𝗹𝗼𝘄𝗲𝘀𝘁 𝗹𝗲𝘃𝗲𝗹𝘀 𝗶𝗻 𝗺𝗼𝗻𝘁𝗵𝘀 📉
Rates have dipped, but won't stay this low for long.
𝗜𝗳 𝘆𝗼𝘂'𝘃𝗲 𝗴𝗼𝘁 𝗮𝗻𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗮𝗯𝗼𝘂𝘁 𝘁𝗮𝗸𝗶𝗻𝗴 𝗰𝗮𝘀𝗵 𝗼𝘂𝘁 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲 𝗳𝗼𝗿 𝗮𝗻𝘆 𝗿𝗲𝗮𝘀𝗼𝗻, 𝗼𝗿 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗳𝗼𝗿 𝗮 𝗹𝗼𝘄𝗲𝗿 𝗿𝗮𝘁𝗲 𝗮𝗻𝗱 𝘄𝗮𝗻𝘁 𝘁𝗼 𝘁𝗮𝗹𝗸 𝗮𝗯𝗼𝘂𝘁 𝗶𝘁, 𝗿𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝗮𝗻𝘆𝘁𝗶𝗺𝗲!
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