Thinking about a cash out refinance? If you have enough equity in your home, cash out refinancing can provide a low-cost source of funds to use for just about any purpose. Popular reasons to refinance with cash out include: paying off credit cards, debt consolidation, home improvement, and money for personal expenses.
As a direct lender, Crystal Lending Group Inc has access to low refinance rates and we can help make the process of refinancing your home fast and easy. You can get started online or call and talk to a licensed loan officer about the options available for cash out refinance programs.
Key Benefits of Cash Out Refinancing
Cash is freed up to use in a variety of ways.
Maintain one loan rather than multiple loans. Can consolidate credit cards, student loans, home equity line of credicts (HELOCs), etc.
Save with lower interest rates.
- Mortgages typically have lower interest rates than other loan types, especially credit cards. Additionally, credit cards and HELOCs do not always require consistent payment on the principal so you could predominantly be paying interest only.
- If you refinanced interest rate is lower than your original mortgage rate, you could save money on interest.
Potentially raise your credit score – if you use cash out to pay off large credit card debt, that may lower credit utilization ratio, which is a factor in determining your credit score.
Get started today!
Fill out the questionnaire on this page to start a discussion about your mortgage needs today!