what is a cash out refinancw

A cash-out refinance is a mortgage loan whereby, you refinance your home to take equity out to consolidate debts, do home improvement, combine a 1st & 2nd mtg. loan or use the cash out for whatever a variety of other reasons.

A cash out refinance is when you get a new loan, pay off any existing liens and have additional funds to put in your pocket or pay off other debt with. Example:.. Your home is worth $200K, you owe $100K,, you get a new loan for $150K, pay off the existing $100K loan, and at closing you get a check for $50K.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893