What is a Cash-Out Refinance?

A cash-out refinance lets you refinance your investment property’s current mortgage, borrow more than you currently owe and keep the difference (home equity) as cash. It could be a great way to unlock your hard-earned equity and get the money you want to make more investments.

A cash-out refinance is one way to unlock the equity you’ve built in your house. Consider this example:

Other Reasons for a Cash-Out Refinance

Consolidating high-interest debt, such as credit card debts, student loans, and personal loans, is a good use of a cash-out refinance. Credit card interest rates are about four times higher than mortgage interest rates. This could make for significant savings.

You can also use the cash for major purchases or unexpected expenses where financing may not be available or have higher interest rates. Some other common uses are: home improvements (which could increase your equity even more!), educational expenses, and additional investments.

Ultimately, everyone’s financial situation is unique. At RP Funding, we have licensed professionals who can assist you in determining if a cash-out refinance is a good option for you.

Who is Eligible?

• Up to 75% LTV
• Max 10 financed properties
• 6 months reserves

Why Use RP Funding?

You could be eligible for a Closing Cost credit on your Investment Property Cash-Out Refinance. See how much you can save in Closing Costs with one of our Closing Cost Programs.

Apply today to see if a Cash-Out Refinance is right for you.