Put that hard-earned home equity to work; consolidate debt, fund a renovation, or invest in your future.
Easy Cash Out Refinance
Set down your avocado toast, folks! We’ve got mortgage wisdom that’s as tasty as that brunch favorite.
Cash Out Refinance When Home Values Increase
This is a golden opportunity for homeowners to consider a cash-out refinance. As your home's value goes up, so does your equity, and that's a sweet slice of financial pie you can tap into. Whether you need to consolidate debt, fund a renovation, or just want to invest in your future, cashing out when your home value increases can be a smart move.
Cash Out Refinance: How Much?
The key to understanding the numbers: the loan-to-value (LTV) ratio. For a cash-out refinance, lenders generally cap the LTV at 80%, meaning you can borrow up to 80% of your home's appraised value. Knowing the LTV is key to figuring out how much equity you can access and making a financially savvy decision.
Whether you're just starting to ponder a cash-out refinance or are ready to dive right in, we at Quillo are here to make the process as easy as spreading avocado on toast. Let's talk about making your equity work for you because the hardest part of this journey should be finding a blue pen.
Put that hard earned home equity to work; consolidate debt, fund a renovation, or invest in your future.
Set down your avocado toast, folks! We’ve got mortgage wisdom that’s as tasty as that brunch favorite.
Not sure if you should go cash-out refi or HELOC, the financial go-getter you are! Good news: we do both and can help you untangle this financial quandary.
Picture your home as a piggy bank the cash inside is your home’s equity. You can’t just smash it with a hammer to get to the equity – but a cash-out refinance will do! A cash-out refinance is swapping your old mortgage for a bigger, flashier one and pocketing the difference.
Think of it like a credit card issued by your home. You get access to a set amount of money that you can draw from as needed and pay interest only on what you use. After some time (most often it’s 10 years’ time) you will be tasked with paying back both principal and interest for the amount you draw from your HELOC. We’re happy to help you weigh both options.