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Cash out mortgage refinance

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Cash Out Mortgage Refinance from LoanexFastCash.com! A Loan with a Difference!

Cash out mortgage refinancing has some important but significant differences from the more well known Home Equity Loan. Never heard of cash out refinance loans? Find out about the difference and see if a refinance with cash out loan is right for you! At LoanexFastCash.com we connect you to the lenders who can unlock the value in your home through cash out refi’s.

What is Cash out Refinance? The What’s, Who’s and Why’s!

What is the difference between a Home Equity Loan and Cash Out Refinancing?

Cash out home refinance is a loan similar to a HELOC, or Home Equity Line except that rather than taking out a second mortgage and having two payments, the home owner refinances his first mortgage and takes the cash out. Its money they can use for whatever purpose they need and still have only one payment. How does this work? Here’s an example:

A homeowner lives in a $200,000 home on which he owes $95,000. The difference between what is owed and what its worth is $105,000. In a cash out refinance the homeowner takes out a new mortgage for $120,000 paying off the first one at $95,000 and pocketing the difference of $25,000 to spend on whatever he wishes.

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Who’s the best candidate for Cash Out Refinancing?

So, who should consider this type of loan? Anyone who has sufficient equity in their home to provide the cash out amount they need. Terms can be negotiated for 10, 20 and 30 years with balloon and adjustable rate (ARM’s) terms as well. Cash out FHA refinance is also available. One proviso to this type of transaction is that the interest rate of the new mortgage be at or below that of the current one. If this is not the case, a HELOC loan may be a better bet.

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Why choose cash out refinancing rather than a Home Equity Loan?

Why a cash out refinance rather than a home equity loan? The answer to that question is simple:

First………
mortgages typically carry lower rates than those classified as a second mortgage like a HELOC.
Secondly…..
Terms like those of the original mortgage can be negotiated and the interest on that loan is currently all deductible for a primary residence. Federal tax laws change so check with your income tax preparer to be certain.
Third………
Cash out mortgage refinances can have all closing costs rolled into the mortgage amount, second mortgages may also, but frequently require certain fees up front before the loan is granted. Those fees paid up front may not be deductible at tax time. Owner occupied properties are not the only properties that qualify for refinancing with cash out, rental properties of up to 4 units and vacation homes can also be eligible in a cash out refinance program if the equity is sufficient, tax benefits may not be the same however.

Sound Like the Loan for You? LoanexFastCash.com has a network of internet lenders to guide you!

LoanexFastCash.com is your connection to a network of internet lenders who are experts in all types of mortgage lending, including cash out refinance loans. They can explain the differences, strengths and weaknesses of the options available to you. Transactions of this kind require the advice of experts. Experts are what you will find at LoanexFastCash.com! The internet is your information highway and the road to those who can help you find the cash for whatever your needs may be. Modern lifestyles are fast paced and busy, don’t waste your valuable time with the bricks and mortar guys, it’s all here at your fingertips!

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LoanexFastCash.com is your key to unlocking the dividends in your home!

Our very secure SSL encrypted website and real time proprietary database connects you to those who can help. Our easy online application will start the process. Our professional lender network at LoanexFastCash.com will collect only the information they need to bring you to a successful, on time closing!

You can have the cash you need for whatever purpose you desire and still enjoy all the comforts of your home.! New Car, debt consolidation, funds for a college education for you or your family, put the cash where you need it most! Investments pay returns…….. start collecting yours now! Internet lenders provide competitive rates, and attractive terms. They’re all available to you from the comfort of your home at LoanexFastCash.com.

Your home is your castle and one of the largest investments you are likely to make. Cash out refinancing lets you see the investment you’ve made start paying dividends! Cash out refinance rates are low, don’t waste precious time!

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