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Are you lending money to your house? Sounds crazy - but a great many people do. Check out our free online movie about Wealth and Leverage, and let us know how much cash out you need! Whether you use your cash out refinance for purpose of debt consolidation, investment, education, or anything else, we can accomplish several goals for you at the same time. Cash-out refinancing is very dependent on the value of your home. We'll contact a local appraiser for a "comp check", which compares your property to other sales as near as possible and recent as possible to your property. Once we have a good idea of your property value, we can give you a solid idea of how much cash you can pull out from a cashout refi'. When considering how much cash to pull out, it may help you to know that the loan rates and fees are set in five-degree increments. For example, if you can keep your new combined loan balance to 95%, or 90% or 85% or even 55%, you'll find the options are defined based on those numbers. Generally, the higher the percentage a property is leveraged, the greater the risk for the bank and therefore the rates are higher. The return on investment is also higher, because you have less of your own cash in the deal. Last, cash-out refinance loan proceeds are not taxable as income, because that loan must be repaid when the property is sold. See our free online movie about building wealth for more information - and of course, contact us asap to get some options. We look forward to speaking with you soon! How much Cash can I comfortably get?
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