What would you do with some extra cash? With Prime Residential Mortgage, mortgage refinances typically take as little as 20-30 days to cash the equity out of your home. Branch manager of the company, Aaron Swenson, joined us today to let us in on the tips and tricks to make this easier for you at home.
"One of the huge advantages of doing a cash-out, refinance with your mortgage is that it really gives you an opportunity to be able to do remodels to your home, while only adding very little to your mortgage," stated Swenson.
Swenson shared that one of the biggest things that the everyday person struggles with, is making only the minimum payments on their credit cards, and therefore, not paying those debts off. One of the greatest advantages of consolidating your debt into your mortgage is that this helps to lower your total monthly payments so you can easily liquidate debt.
Out of pocket fees often catch us off guard. With refinancing, you avoid most out of pocket expenses. Typically, the refinancing home owner would only have to pay for the appraisal costs on the home. And don't let bad credit get you down, Prime Residential Mortgage offers many services to help raise your credit score!
"A lot of people don't realize this, but you can do a mortgage with a credit score as low as 500 and once that gets approved, you can start your cash-out refinance," explained Swenson.
Prime Residential Mortgage also offers loans for Veterans, offering the ability to refinance up to 90% of their equity; versus a conventional loan. This allows those who have served our country to maximize their cash-out.
By taking the equity out of your home, you'll begin waking up to one significantly lower payment in the morning, as opposed to six!
For more information contact Prime Residential Mortgage at (561)563-8573.