Deep Dive: Cash Out Refinance

We wanted to make you aware of a financing option that could put some extra cash in your pocket. With home values continuing to rise, now may be an ideal time to take advantage of the equity you've built up in your home through a cash-out refinance.

What is a cash-out refinance?

A cash-out refinance allows you to refinance your existing mortgage for more than you currently owe and take the difference in cash. It replaces your existing mortgage with a new, larger loan at today's mortgage rates.

There are several potential benefits of doing a cash-out refinance:

• Unlock your home's equity: With home prices appreciating, you may be sitting on a significant amount of equity that you can access as cash.

• Consolidate debt: Use the cash to pay off high-interest credit cards, loans, or other debts and reduce your overall interest costs.

• Finance home improvements: Invest in renovations or upgrades that can further increase your home's value.

• Major purchases: Use the funds for major expenses like education costs, weddings, or other large purchases.

The Pisano Team values you and your goals. We provide personalized service to ensure you get the most out of your cash-out refinance or weigh the options to help you decide if a cash out refinance is the best move. We will guide you through the process and find the best solution for your financial goals. Reach out to us today to discuss if a cash-out refinance makes sense for your situation.