Are you looking to tap into the equity you've built up in your home? A cash-out refinance could be the perfect solution to help you achieve your financial goals.
At Maine Mortgage Company, we specialize in guiding homeowners like you through the cash-out refinancing process, so you can access the funds you need while still maintaining the benefits of homeownership.
Home improvements & renovations
debt consolidation
major expenses (medical bills, college tuition)
investment opportunities
What is Cash-Out Refinancing?
Cash-out refinancing allows you to replace your existing mortgage with a new, larger loan.
The difference between the new loan amount and your current mortgage balance is the "cash-out" portion that you receive as a lump sum.
This cash can then be used for a variety of purposes.
The Benefits of Cash-Out Refinancing
A cash-out refinance allows you to replace your current mortgage with a new, larger loan, giving you access to your home's equity while potentially improving your loan terms. This flexible financing solution offers several key advantages for homeowners:
Access to Funds
Tap into the equity you've built up in your home to get the cash you need.
Potentially Lower Interest Rates
Depending on current market conditions, you may be able to secure a lower interest rate than your existing mortgage.
Flexible Uses
Use the cash-out funds for anything you need, from home improvements to debt consolidation.
Tax-Deductible Interest
The interest paid on the cash-out portion may be tax-deductible (consult your tax advisor).
Maintain Homeownership
You'll still own your home, just with a new mortgage that reflects your current equity.
Single Monthly Payment
Consolidate your existing mortgage and desired cash-out amount into one loan with one predictable monthly payment.
Let us help you lower your monthly payment and stop paying mortgage insurance (MI)
Whether you want to lower your monthly payment, drop your mortgage insurance (MI), tap into your equity or consolidate debt, there are a lot of good reasons to refinance. We can help you with all of it.
We offer:
How Does Cash-Out Refinancing Work?
Assess Your Value and Equity
We'll help determine your home's current market value and calculate your available equity by subtracting your remaining mortgage balance. This tells us how much cash you could potentially access through refinancing.
step one
Choose Your Loan Terms
Based on your equity, credit, and financial goals, we'll help secure favorable terms for your new mortgage. Together, we'll determine how much equity you want to cash out while ensuring your new monthly payments fit your budget.
step two
Close and Access Your Funds
Once approved, you'll close on your new mortgage and receive your cash-out funds as a lump sum. From there, you'll simply make monthly payments on your new mortgage, which replaces your old one.
step three
Why Choose Maine Mortgage Company for Your Cash-Out Refinance?
Get started now!
Rates change daily.
Call now!
877-888-5291
or click the button below to get started today!
Ready to Unlock the Equity in Your Home?
Whether you're looking to fund a home renovation, consolidate debt, or access cash for another purpose, a cash-out refinance could be the solution you've been searching for. Let's explore your options and find the right cash-out refinance to help you achieve your financial goals.
Contact us today for a free, no-obligation consultation. Call 877-888-5291 or fill out our online form, and one of our friendly loan experts will be in touch to get you started.