Cash Out Refinance

Need extra money for a big expense? Use the cash value of your home. Review Rates

Cash Out Refinance

Need extra money for a big expense? Use the cash value of your home. Review Rates
Put your home’s equity to work for you. Whether you're looking to fund a big expense or consolidate debt, cash out refinancing from Advancial can make it happen.

Cash Out Refinance

Cash out refinancing allows you to utilize your home’s equity to pull cash out and use those funds for any number of things, including:

  • Home improvements
  • School tuition
  • Investment purposes
  • Large purchases

Debt Consolidation

If you have bills that carry a higher interest rate than your existing mortgage, such as credit card debts or car loans, you may want to consider consolidating them into one new mortgage. By refinancing your existing mortgage and high-interest debt into one loan with one monthly payment, you could save hundreds each month.

Example:
 

Monthly Debts Balance Payments
Mortgage $200,000 $1,043
Car #1 $20,000 $500
Car #2 $20,000 $500
Visa credit card $10,000 $300
Mastercard credit card $5,000 $150
     
Totals $255,000 $2,493


After 2% in closing costs, the new loan amount comes to $260,100. With a rate of 4.625%, your new total monthly payment would be $1,337. We've already done the math, that'll save you $1,156 per month!

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