Apex Home Loans recently issued the following announcement.
With a cash-out refinance, you take out a new mortgage for more than you owe on your existing home loan, but less than your homes current value. You will receive the difference between the new amount borrowed and the loan balance at closing!
It is common for people to choose a cash-out refi when they want to do renovations, pay for a child’s tuition, buy a new car, and more! If you’re interested in this option, let us know!
Original source can be found here.
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