Tap Into Your Home Equity
Get Cash From Your Home And Put Your Equity To Work For You
If you’re considering a cash out refinance to cover the cost of home improvements, credit card debt, or unexpected medical expenses, we at Solano Mortgage are here to help.
To get cash from your home, you can do a couple of things. You can get a home equity line of credit (Heloc), or you can refinance your mortgage and get extra cash at closing through a cash-out refinance.
What is home equity? Equity is your ownership in your home, or the difference between what your home is worth and what you owe on the mortgages or liens.
You can build and increase the equity in your home in the following ways:
- The appreciation of your home’s value over time
- Renovations or improvements made that increase the value
- Cash provided for the original down payment (depending on value and market conditions)
- Payments made toward the principal balance of the mortgage
What can a cash out refinance be used for? Anything you want. Make improvements to your home, put money down on a second home or investment property, pay for school, take a vacation, purchase an automobile, fund your retirement … it is your cash, and you can do what you like with it!
A cash out loan with a low interest rate may be a better solution than high-interest credit cards if you have unexpected medical bills, unforeseen expenses, or surprise improvements that need to be made on your home.
How much cash can you get from your home? Our mortgage calculator can show you how much your monthly payments would be with a new loan or additional home equity line of credit. Apply online to get cash from your home today.
Wondering about your options? Our Solano Mortgage loan advisors can go over all of your refinance options to help you discover the perfect solution to your cash needs. We will show you the difference between a cash out refinance compared to a home equity line of credit so you can confidently choose the right program for you. Find an advisor to show you how to get cash from your home and guide you through the refinance process.
Let us help you find the home loan to reach your financial goals.
Fixed Rate
The peace of mind of a fixed rate and payment is the right choice for most borrowers.
- Conventional Mortgage
- FHA Mortgage
- Jumbo Loans
- Reverse Mortgage
- USDA Loans
- VA Mortgage
Adjustable Rate
When you have short term lending goals, an adjustable rate may be right for you.
- Conventional Mortgage
- FHA Mortgage
- Interest Only
- Jumbo Loans
- Reverse Mortgage
- VA Mortgage
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