Capitalyzed Services

  • Real Estate Financing
Capitalyzed

Hard Money Loan / Mortgage Refinance

Cash-out refinancing replaces your existing home mortgage with a bigger loan, allowing you to take advantage of the equity you've created through your home. You will have access to the difference between the two mortgages (your current one and the new one) in cash. The process for a cash-out refinance is like a rate-and-term refinance of a mortgage, in which you simply replace your existing mortgage with a new one. Ideally it comes in at a lower interest rate or for a shorter term, in some cases, both are to be true. In a cash-out refinance, you can do the same, combined with withdrawing a portion of your home`s LTV in a lump sum.

  • Cash-out refinancing allows you to turn equity into cash through refinancing your mortgage
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  • The terms of your refinanced mortgage might be significantly different than your original loan, including a different rate or loan period.
    While you can't cash out all your equity, it does give you access to more cash fast.

    *Typically, we can go up to 60-70% LTV!

*Example:

The remaining balance on your current mortgage is $200,000 and your home is currently worth $400,000. In this case, you have $200,000 in home equity. Let's assume that refinancing your current mortgage means you can get a lower interest rate, and you’ll use the cash for something like renovating your kitchen and bathrooms.

Since lenders generally require you to maintain at least 20 percent equity in your home (though there are exceptions) after a cash-out refinance, you’ll need to have at least $80,000 in home equity, to be able to borrow up to $120,000 in cash. You'll also need to pay for closing costs like the appraisal fee, so the final amount could be less. However, with renovations or reinvesting the lump sum cash, you would be increasing the LTV / value of the property.

Location:

Deerfield Beach, Florida 33442

Phone:

954-493-1422

Email:

steven@capitalyzed.com

Hours:

Mon - Fri: 10am - 8pm EST
Saturday: By Appointment
Sunday: Closed

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Reach out with any questions or to set up a meeting to discover the best path for your business!