Cash Out Refinance

 

Cashing out refers to the refinancing of a loan where the borrowers will borrow money on their own home. If a home is appraised at $100,000 and the borrower's outstanding mortgage loan is $60,000, it is possible to enter into an 80% cash-out refinance transaction for a loan of $80,000 (80% of $100,000). The new mortgage of $80,000 will pay off the $60,000 loan and leave $20,000 cash-out to the borrowers.

What are the benefits?

By cashing out on your home, you can obtain cash on the value of your own home to pay off debts or upcoming expenses. The refinance transaction can also provide you with a better mortgage loan interest rate that will save on your monthly mortgage payments during the loan. And it's tax-deductible.

How can we help? Call us today at (978) LOAN YES.    or fill out the little 6 minute application on this website.

If you are looking for this type of refinancing, New England Regional Mortgage can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes and Non-owner occupied homes, with low, affordable rates.
 

Today's Rates*

TermRateAPR
15 Yr Fxd3.5%3.625%
20 Yr Fixed4.125%4.329%
30 Yr Fxd4.375%4.51%
* All rates above are with ZERO points.

Add .125-.375 to each rate for 
no points and no closing costs option 
depending on loan size.   This is a range of rates and actual rate will depend on your
fico credit score, loan-to-value after appraisal is completed and other factors.


Ask Loan Officer for customized rate quotes

 

Need More information

Call Us: 1-800-220-0959 x 150 Sales
Email Us: info@newenglandregional.com

 

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FL Mortgage Lender License MLD108
CT Mortgage Lender License 1924
MA Mortgage Broker License MC2813
MA Mortgage Lender License MC2813
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