A cash-out loan is a refinancing option that helps Denver homeowners use their home's equity to pay off debt, finance large purchases, or fund home improvement projects. When homeowners take out a new home loan for more than is currently owed on their mortgage, they can accept the difference in cash. For example, if you still owe $100,000 on your $200,000 mortgage, you can refinance your mortgage for a new $120,000 low-rate cash-out loan and take the $20,000 surplus in cash for other financial needs.
Advantages of Cash-Out Loans
- Low Rates and Monthly Payments The rates for a cash-out loan are often lower than other loan options, so Denver homeowners can enjoy a lower monthly mortgage payment when they refinance.
- Finance Your Dreams Homeowners that refinance using a cash-out loan can use the cash to start a business, invest in a property, increase your retirement fund, and pay for major home upgrades and remodels.
- Pay Off Your Debt Denver homeowners that are unhappy with your high-interest credit cards, car loans, or student loans can wipe out your debt when you refinance with a cash-out loan. Taking advantage of your home's equity can quickly and easily improve you and your family's financial situation.
Cash-Out Loans in Denver
Golden Oak Lending Denver offers top-notch customer service to guide homeowners through the cash-out loan process. From application to closing, your personal loan expert is available right at our local Denver office to walk you through your unique home refinancing process. With incredible low interest rates, Golden Oak Lending will get you the cash you need to achieve your financial and personal goals. Call or contact our local Denver office today to make your finances work for you!