Loans

For a homeowner considering a refinance loan as a way to get cash, the answer to this question depends on two things: How much your home is worth, and how much you owe on your current loan.

For example, if your home is worth $250,000, and your current mortgage balance is $200,000, you may be able to get up to $50,000 in cash to use to:

• Pay off debt
• Buy a car
• Finance college tuition
• Make home improvements

The exact amount you can get will be determined by your credit history, your current income and debt, and by your ability to find the right lender. A home loan refinancing specialist can work with you to maximize your ability to cash in on the equity you have earned as a homeowner.