Pulling Cash Out, How It Can Actually Help You

Cash Out

You’ve spent years building the equity in your home, but did you know that you can
pull some of that cash back out of your home’s equity?

Emergencies happen, we understand that and we’re here to help. Choosing a cash out refinance
may seem overwhelming, but it doesn’t have to be. The cash that you pull out of your
home’s equity can be used for whatever you need: medical bills, car repairs or maybe to even
start a savings account. Did you know that you can use the money in ways that are more fun?
How about taking a well deserved family vacation? My point being is that this money can be
used in any way that you see fit!

Besides the obvious benefit of receiving a large lump sum of cash, there are many more hidden
benefits. One being that you can oftentimes refinance your home into a lower rate than what
was available at the time of your mortgage’s origin. For example: if you plan on making some
home repairs it would be cheaper to use a cash out refinance mortgage low interest rate than to
put it on a high interest rate credit card.

One benefit that most people aren’t aware of is the fact that refinancing can be a huge tax write-
off! The interest rates and some of the closing costs of refinancing are tax deductible.