Align Lending

Benefits of a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Depending on the equity in your current home, cash-out refinances help improve your mortgage’s loan terms and provide cash-in-hand. Here are a few additional benefits:

Lock in a lower interest rate
Shorten the loan term or change your loan program depending on your needs
Use the cash funds for any purpose without restrictions
Improve your credit score if your credit utilization decreases
Receive tax deductions if you use the funds for home improvements and meet the IRS eligibility requirements

Qualifying for a Cash-Out Refinance

In order to get a cash-out refinance, you need to meet your lender’s requirements and qualifications, such as:

A credit score of 620+
A debt-to-income ratio of 45% or lower
At least 20% equity in your home (paid off 20% of the current appraised value of your home)
Meet the seasoning requirements of your current loan program, which will range from 6-12 months

Cash-Out Refinances

What is a Cash-Out Refinance?

Benefits of a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Getting started with Align Lending

Cash-Out Refinances

What is a Cash-Out Refinance?

Benefits of a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Qualifying for a Cash-Out Refinance

Getting started with Align Lending

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