Cash-Out Refi

How does a cash-out refinance work?

How does a cash-out refinance work?

With interest rates at historic lows, many homeowners are considering mortgage refinancing. A typical refinancing entails closing out your original loan and opening another — same principal balance financed at new terms and a better rate.

A cash-out refi is different. It allows a homeowner to borrow some money and refinance a mortgage simultaneously. In a nutshell, it’s like refinancing your mortgage, adding a home equity loan or line of credit (HELOC), and receiving a fat check at closing.

Continue reading How does a cash-out refinance work? at Movement Mortgage Blog.

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Looking to change the home buying process for the better, the Humes Team is here for all of your mortgage needs. No loan is too big or too small. We believe one should treat others as expected to be treated. We pride ourselves in honesty paired with communication to deliver A1 service with great results.

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Movement has grown from a small team of 4 to over 4,000 employees with more than 500 locations across 46 states. Inc. Magazine recognized Movement Mortgage as the fastest-growing mortgage bank in the country.

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