A Cash-Out loan allows you to take out a new home loan for more than is owed on your current mortgage, accepting the difference in cash. This allows you access to some of the equity you’ve accrued to pay for major expenses such as tuition or other high-cost needs.
Unlike a Home Equity Loan, a Cash-Out loan refinances your existing loan under new terms, so it is not a second mortgage, but a new first mortgage. The benefits of a Cash-Out loan include lower rates and simpler terms, as well as having the cash you need to:
Golden Oak Lending is proud to offer Cash-Out loans at the lowest rates, as well as professional experience and a hassle-free mortgage process.
If you are interested in learning how a Cash-Out loan can help you get the money you need, Contact Golden Oak Lending today. It only takes 15 minutes to find out if you can save money!