Fairway-Asset Fairway-Asset
  • Home
  • PURCHASE
  • Refinance
    • Cash Out Refinance
    • Paperwork needed
  • BLOG
    • Loan option
    • News
  • Apply
  • CONTACT
  • English
  • Tiếng Việt
Return to previous page
Home Refinance

Cash out refinance

Cashing out refers to the refinancing of a loan 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, Fairway Asset Corporation can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes and Non-owner occupied homes, with low, affordable rates.

 Equal Housing Opportunity Fairway Asset Corporation ™ 2022 Privacy Policy  |  Contact Us

12000 Ford Road A413, Farmers Branch, TX  75234

NMLS ID 293044 View NMLS Consumer Access

Mortgage Website Marketing
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Copyright © 2021 by Fairway Asset