Should I Choose a Cash-Out Refi or HELOC?

When you need a chunk of cash for a project, your home may be the best source of funding. Fortunately, you do not need to sell your home to take advantage of your equity. There are two popular and practical ways to pull cash out of your home: a cash-out refinance mortgage and a home equity line of credit (HELOC). Cash-Out Refi’s A cash-out refinance loan replaces your existing mortgage with a new, larger loan, allowing you to take out cash in exchange for some of your existing equity. Lenders typically cap your cash-out refi at 80% of the home’s value. For example, let’...

February 20th, 2019 | Refinancing a Home, HELOC, Should I Choose a Cash-Out Refi or HELOC?

A.K.I. Funding

NMLS: 348865

Cal BRE: 01850103

Phone: 909-396-6870

 

Diamond Bar

22632 Golden Springs Drive, Suite 180
Diamond Bar, California 91765

West Covina

1627 W Garvey Ave N
West Covina, CA 91790