Cash out refinance for home improvement
We own a beautiful rustic home that we plan to live in until we retire. Living in Florida is all worth it but we are looking at a pretty expensive remodel to build the retirement home of our dreams. We don’t have assets we can sell to fund the project and we are looking at a cash-out refinance of at least $500k. Our lender has offered low rates and we were wondering what other options we have with a loan of this size? by josephw135 from Belleview, Florida. Nov 22nd 2021
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
The most common way of doing what you want is with a standard cash-out refinance loan. You pay off any existing mortgage, and replace it with a larger one giving you the additional cash you need. This is also usually the cheapest way. I lend for properties in MN, WI, IA, ND, and SD. Find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132
Lee Eisenberg (Lee@Lemort.com)
#80 ranked lender in Florida - 6 contributions
HI we are located and licensed in Florida. Do you have a current 1st mortgage, if so at what rate and balance? When you say Rustic, can you give me a little more details on condition? Feel free to reach out to me directly. Lee M. Eisenberg President Leading Edge Mortgage Corp. 2200 NW Corporate Blvd., Ste 309 Boca Raton, Florida 33431 Office 561-392-0040 Fax 561-367-1555 Cell Phone 561-702-1045Florida Licenses Individual LO#201 Company MBR#24 Federal Licenses Individual NMLS#168667 Company NMLS#168668 Lee@Lemort.com WWW.Lemort.com Celebrating over 40 Years in the Mortgage Industry
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