Cash Out and Debt Consolidation

Home values have increased significantly over the past few years – especially in Colorado, Florida, Georgia, Illinois, Washington, and Virginia.  A cash out or debt consolidation loan is a solution to borrowers who are overwhelmed with high monthly payments. When comparing debt consolidation payments versus building them into your mortgage is tremendous monthly savings. Credit cards can have 20 plus percent interest rate and car loans have short term financing with a higher rate than a mortgage.

• Up to 80% loan to value for primary residence
• Up to 75% loan to value for investment

• Up to 85 percent loan to value with no pricing adjustments on the interest rates. Conventional loans have pricing adjustments when you do a cash out refinance and the interest rate is usually higher than a rate and term refinance.

With a VA Cash out, the maximum Loan to Value and Combined Loan to Value is allowed up to 100% excluding the VA Funding Fee. 

• Defer up to 2 mortgage payments
• Overall lower monthly debt payments
• FHA – Possible Refund on Initial FHA Insurance Premium and lower monthly insurance
• One low monthly payment with no high balances with many different accounts
• Refund on your current escrow balance

Home values have skyrocketed. Use this advantage to eliminate mortgage insurance forever and knock out stressful bills with extra cash.