Mortgage Refinance Options: Rate & Term Versus Cash Out
In a cash-out refinance you are both paying off your current home loan as well as receiving additional funds back at closing. With a rate & term refinance, you are simply paying off your current loan(s) and keep your equity in your home.
The rate & term refinance options at Coast2Coast can help lower your mortgage interest rate and monthly payments to save you money. There are many reasons to choose a rate/term or cash-out refinance:
- Lower your current interest rate. Interest rates recently hit new all-time low levels.
- Change from an adjustable-rate mortgage to a fixed-rate term.
- Loan term reduction: reduce the term from a 30 year to 15-year fix and reduce your interest rate. Note that lower term mortgages typically have lower interest rates.
- Add or remove a borrower from your loan– divorce, etc.
Coast2Coast offers a wide variety of mortgage refinancing programs. Regardless if you have an FHA, VA, USDA, Conventional or Jumbo loan, we have a program that fits your needs. Take advantage of one of our mortgage refinancing programs today!
Cash-Out Refinance:
Things come up and sometimes you may need cash quickly. Or maybe you want to add a new addition to your home, consolidate a 1st and 2nd mortgage or pay off high-interest debt. The cash-out refinance options can help.
Many Conventional, FHA, VA and Jumbo programs offer a cash-out option for homeowners with sufficient equity. Note: USDA currently does not offer a cash-out option.
- Cash-out equity to pay off higher-interest credit card debt.
- Some programs like VA loans, still permit up to 100% loan to value cash out. Most refi programs are currently limited to 80% loan to value.
- Same day response on your application
- Easy online tracking of your loan
- Simple and quick closings
- Up to 100% VA cash-out refinance
- Up to 80% Conventional loan refinance
- Up to 80% cash out Jumbo refinance.
- Deal with people that value your business. Our mortgage professionals understand that you are our number one priority.
Coast2Coast is available 7 days a week. Please connect with us by calling the number above, or just submit the Quick Request Form above.