Are you dissatisfied with your mortgage’s interest rate? Do you need quick cash? Pinnacle Mortgage Solutions in Henderson, NV, is here to help. We provide a free online refinance advisor widget to help you find the right refinancing plan for you and determine if cash-out refinancing is an appropriate option.
Cash-Out Refi Options
You may have heard of a cash-out refi, but maybe you don’t know exactly what it is or how it works. Cash-out refinancing combines refinancing your mortgage with taking out a home equity loan. But what are each of these things?
Refinancing is when you trade your current mortgage for a new one, generally because interest rates have dropped. Home equity loans involve taking out an additional mortgage on your home, usually to pay for repairs, added construction, or even non-housing expenses. This usually leaves you with two creditors who have a possible claim on your home, making home equity loans financially risky.
Cash-out refinancing allows you to refinance your home and take out an additional loan in one transaction under a single creditor. This generally results in higher mortgage payments, but it may also help you get a lower interest rate on your mortgage — if you time your refinancing correctly.
Other Refinance Options
Of course, cash-out refinancing isn’t the only option. Other refinancing options available to you are:
- Cash-in refinance
- Rate and term refinance
- FHA streamline refinance
- VA streamline refinance
- USDA streamline refinance
- Reverse mortgage
- No closing cost refinance
- Short refinance
Use our advisor widget below to determine what refinancing option is best for you. We do not keep your information to reuse or sell to third parties.
Speak to One of Our Live Advisors
We recognize that you might have several reasons to speak with a live advisor after using our free widget. Whether you want to ask questions about the refinancing plan the widget recommended or you want to move forward with it, or if you simply prefer to speak with a live agent, we’ve got you covered. Call us today at (708)-966-8222 to speak with us.