Refinance & Cash-Out Loans

A refinance can be undertaken by both an individual and a business in order to make favorable changes to their interest rate, payment schedule, and further terms with their lender. If a refinance is approved, the borrower receives a new contract to take the place of the prior credit agreement.

Cash-out refinances are a way for borrowers to access the equity they have built over time in their home or commercial project. Cash-out refinances allows a borrower to consolidate multiple high interest debts into a single lower interest monthly payment. There are many reasons to take cash out of the equity, although typically borrowers refinance without taking cash out if they just want to drop their interest rate or change their current payment plan.