Cash Out Refinance Rates

Cash Out Refinance RatesCash Out Refinance Rates

When it comes to optimizing equity, homeowners have several options. Cash out refinancing is one of those options, and depending on the specifics, such as how much longer you’ll live in your home and what your current interest rates are, it may be a smart decision to take advantage of cash out refinancing. When it comes to cash out refinance rates, all rates are not created equal, but here are some things you need to know about cash out refinancing.

  • Though interest rates are generally lower, this isn’t always a given. However, it’s only a good idea to participate in cash out refinancing if it will lower your interest rate. If your rate is already as low as it will get, there is no use in refinancing for a higher interest rate, which would cost you more money.
  • There are usually closing costs present when you refinance.
  • It’s only a good idea to go the cash out refinance route if you will be in your home for awhile longer. If your mortgage is almost paid off, there is really no point in refinancing, especially if your current rates are fairly low.
  • There is no predicting what your cash out refinance rates will be. To find out, you must meet with a qualified lender to discuss your equity options and weigh the benefits of using cash out refinance to get equity.

Refinancing your loan is a big decision that can have negative financial consequences, or it can be a smart, savvy decision that gets you the cash you need at an affordable interest rate over time, allowing you to use it for whatever you desire. Talk to the lenders at Paramount Equity to get more insight into your own rates and decide if using cash out refinancing is the best way to get the funds you need.

 

The Paramount Pledge™ – Triple Protection

The Paramount Pledge. It is our promise to you that we’ll provide the best rates, won’t charge you an application fee to lock in a rate and will ensure we can close and lock in a rate at the terms we provide.

No Application Fee – Other lenders charge hundreds of dollars to start the loan process with you. Paramount Equity Mortgage® will never ask you to pay an application fee just to lock in your rate.
Better Rate Warranty – After you complete a loan with us, we will cover most of the cost to refinance or purchase within the next seven years, for any reason.
Set & Secure Closing Guarantee™* – Once we receive all required borrower information, your signed disclosure and lock your loan, we guarantee we can close your loan at the rate and terms we provided. If we can’t, we will pay you $500.
* The Set & Secure Closing Guarantee is not valid in the event that there is an unforeseen change such as, an appraisal coming in under value, undisclosed debt at the time the loan was pre-qualified, a change in income due to loss of job or change in employment, etc. This guarantee is also not valid in the event that you withdraw your application or request a change to the terms of your loan. A change in terms would consist of, but is not limited to, a change in loan amount, fixed vs. adjustable rate, number of years the loan is amortized, adding/removing a borrower, etc.