Need Cash Now? Tap Into Your Equity.
Considering a dream kitchen upgrade? A new roof that would stop the rain from leaking into the living room? New siding that would give your home revitalized curb appeal? That addition that would double your living space? Don’t look to high-interest credit cards to provide the cash to finance those renovations. Those interest rates can range between 11%-24% and according to a 2018 article on MoneyInc.com, revolving debt is habit-forming, harbors fine print hidden surprises along with high interest and fees and often results in much more expensive purchases. In fact, ValuePenguin.com reports that Americans currently owe a combined $1.3 trillion dollars in revolving credit debt!
A lower interest option may be hiding inside the walls of your current home. It’s called equity, the difference between the balance left on your home loan and what it’s worth today. When you tap into it strategically, you can get the cash you need in a cost-effective and tax-deductible way.
Call Ark today to get started!
Cash Out Refinance FAQs
- How does a cash-out refinance work?
- Is a home appraisal required for a cash-out mortgage refinance?
- How much cash can I take out when I refinance?
- Can I do a cash-out refinance when an FHA or VA loan?
- With my refinanced mortgage, what will my new monthly payment be?
How much will it cost to use my equity?
Calculate your potential new monthly mortgage payment in seconds with this handy calculator, so you can make sure you have enough money left over each month for all your other expenses. Choose your rate and term—you might be surprised to see how affordable it is to own your home in less time than you thought. See how much interest you’ll pay over the life of the loan, and enter prepayment amounts to calculate their impact on your mortgage.
Home is Where the Money Is. Why Not Refinance with Ark?
Save thousands by using the equity in your home to pay off your high interest credit card debts.
Most improvements or additions you make to your home actually improve it’s value, well beyond the investment.
Put the growing equity in your primary residence to work as a down payment for an investment property.
You can pay off large medical or other unexpected expenses to protect your assets and your credit.
Protect your home and family with and emergency reserve fund in the event you lose your income or job.