Cash Out Refinance

 

Cashing out refers to the refinancing of a mortgage 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, Treadstone Funding can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes, Non-owner occupied homes, and low, affordable rates. Based in Grand Rapids, we serve all of Michigan residents providing comprehensive  mortgage refinancing that makes sense for you and your family's short and  long term financial goals.

 

Treadstone based in Grand Rapids, is the fastest growing mortgage company in Michigan.  We specialize in FHA 203k Renovation Mortgages, zero down programs, VA Home Loans, Conventional mortgage options and Home Refinance.  Our staff of experienced, successful mortgage specialists make working with Treadstone a second to none experience.  When it comes to your dream of home ownership and a prosperous future, trust the local mortgage experts, trust Treadstone.  We'll exceed your expectations!

 

Treadstone Funding

25 Commerce Ave SW

Grand Rapids, MI 49503

616.774.9160