Put the value of your home in your hands with Cash-Out Refinancing through Trinity Oaks Mortgage.
Whether you’re managing unexpected bills or you’d like to make improvements on your home, leveraging your investment into your home could be the most cost-efficient way to obtain the cash you need.
There are no restrictions on how you use your cash, and rates are still lower than most personal lines of credit. Contact Trinity Oaks Mortgage today and find out if a Cash-Out Refi is right for you.
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Trinity Oaks Mortgage is your best choice to secure a Cash-Out Refi in Texas.
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A “cash-out refi” involves replacing your mortgage with a new mortgage of a higher value. The difference between the two mortgages is paid back to you as cash. The amount you receive depends on the equity you have in your property.
Equity is the difference between your home’s current market value and your mortgage balance. As you make payments on your loan’s principal, your equity position improves. Upgrades to your home that increase its value may create even more equity for you. The more equity you have, the more cash you’re eligible to receive.
A cash-out refi is more profitable than a Home Equity Loan because it typically carries a more favorable interest rate, and instead of taking out a second mortgage on your home, it replaces your current loan.
In most cases, there is little difference between a Cash-Out Refi and your traditional mortgage. If you qualify for a fixed-rate mortgage, your refinancing will typically be at the same fixed rates. Moving forward with a single loan means less hassle making payments, which makes it easier to manage your credit.
Many homeowners are worries about changes to federal prime loan rates. If you’re wondering how much refinancing will affect your monthly payments, we encourage you to check out our handy Refinancing Calculator!
Trinity Oaks Mortgage, one of the area’s leading mortgage lenders has vast experience dealing with refinancing loans in Texas. We’re available to answer any questions, help determine if you are eligible and guide you through the home loan process.
