Expert Contributor
Get Cash from Your Home and Put Your Equity to Work for You By Lynn Eskew, NMLS 310381 and Kelly Stewart Allen, NMLS 261078 Diversified Capital Funding, NMLS 1850
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f you’re considering a cash out refinance to cover the cost of home improvements, credit card debt, or unexpected medical expenses, at Diversified Capital Funding, we are here to help. What is home equity? Equity is your ownership in your home, or the difference between what your home is worth and what you owe on your mortgage. You can build and increase the equity in your home in the following ways: •
The appreciation of your home’s value over time
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Renovations or improvements made that increase the value
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Cash provided for the original down payment (depending on value and market conditions)
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Additional payments made toward the principal balance of the mortgage
What can a cash out refinance be used for? Anything you want. Make improvements to your home, put money down on a second home or investment property, pay for school, take a vacation, purchase an automobile, fund your retirement … it is your cash, and you can do what you like with it! A cash out loan with a low interest rate may be a better solution than high-interest credit cards if you have unexpected medical bills, unforeseen expenses, or surprise improvements that need to be made on your home.
How much cash can you get from your home? We can show you how much your monthly payments would be with a new loan or additional home equity line of credit. Wondering about your options? We can go over all your refinance options to help you discover solutions that might work for you and your cash needs. For more information, contact Lynn Eskew, NMLS 310381 at 925-899-0777, Lynn@divcap.net or Kelly Stewart Allen, NMLS 261078 at 925-457-1738 kelly@divcap.net
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JANUARY 2019
