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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?

If you are looking for this type of refinancing, Home Mortgage Alliance can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes, Non-owner occupied homes, and No income verification with low, affordable rates.

 

 
 

Refinance

We can assist you in locking a long-term fixed rate or refinance and get cash out.  We can help!  To get started click here

Purchase

Purchasing a home will likely be one of the most important investments you'll ever make. We can help!  To get started click here

FHA loans

FHA home loans provide higher loan to value, lower rates and enable more people to qualify.  We're FHA experts... We can help!
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Licensing Information  -  Home Mortgage Alliance, LLC Licensing Disclosure

Home Mortgage Alliance, LLC is an approved FHA lender and sponsored agent of VA loans. NMLS# 1137507 (www.nmlsconsumeraccess.org). Home Mortgage Alliance, LLC offers many loan products. Contact a Home Mortgage Alliance, LLC Representative to learn more. This is not a commitment to lend. Stearns Lending, LLC is an affiliate of Home Mortgage Alliance. NMLS# 1854.©2017 Home Mortgage Alliance, LLC. All Rights Reserved.