Your home is more than just a place to live - it's a valuable asset that can help you achieve financial flexibility. By tapping into your home's equity, you can access funds to support your goals, whether big or small.
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This is essentially a new mortgage that replaces your existing one, allowing you to tap into your home's equity. You'll get a new loan with new terms, and you'll only have one monthly payment to worry about.
Our team of experts is here to guide you through the process and help you make an informed decision that's right for you
This is a second mortgage that you take out in addition to your primary one. You'll receive a lump sum of money upfront, and you'll have a separate monthly payment for this loan.
Not sure which path to take? Our knowledgeable team is always available to offer personalized advice and help you choose the best option for your unique situation
When it comes to cash-out refinance rates, you can expect to pay a slightly higher interest rate compared to traditional refinance rates - typically ranging from 0.125% to 0.5% more. To snag the best interest rates, you'll need a strong credit profile, with a credit score above 740, and a lower loan-to-value ratio. Keep in mind that the more equity you choose to cash out, the higher your interest rate may be, so it's essential to weigh your options carefully.
We're here to help you navigate the details and find the perfect solution. Our experts will work closely with you to understand your goals and create a customized plan that meets your needs.
If you're considering a home equity loan, keep in mind that the interest rates are often slightly higher than those for cash-out refinances. Additionally, the rate you qualify for will depend on various factors, including your credit score, the amount you borrow, and the length of the loan term. This means that your individual circumstances will play a significant role in determining the interest rate you'll pay on your home equity loan.
Our experienced team is here to support you every step of the way, providing expert guidance and helping you make the best choice for your financial future.
It's unsure how interest rates will move at any given time, but your lender may estimate where interest rates are headed. If interest rates are expected to be volatile in the near future, considering locking your interest rate may be good because it allows you to qualify for the loan. Or, if your budget could handle a higher loan payment, or lender's lock fees, you may want to let interest rates "float" until the loan closing.
Even with poor credit getting a home loan is still possible. A lender will consider you to be a risky borrower and to compensate for this they will charge you a higher interest rate, and expect a higher down payment usually 20%-50%. The worse your credit history is, the more you can expect to pay.
Not necessarily, if you've been late with your payments less than 3-times in the past year, and the payments were no more than 30-days late, you still have a good change at getting a competitive interest rate. Most lenders will accept certain reasons for this like an illness, or job-change, but explanations are required.
There are two important things to consider when choosing one lender over another one:
