Why Cashout Refinance?

Laura Johnson.

A Cashout Refinance is a financial strategy that homeowners can utilize to tap into the equity they have built in their homes, providing an opportunity to reclaim financial freedom. By refinancing your existing mortgage, you can replace the current loan with a new one, borrowing more than the outstanding balance with the goal of receiving a lump sum of cash.

1. Consolidate high interest debts: Homeowners burdened with multiple high interest debts, such as credit cards or personal loans, can use a Cashout Refinance to pay off these debts. This allows you to consolidate your debts into single, and a possible lower, interest mortgage payment.

2. Renovate and increase home value: Investing the cash received from your Cashout Refinance into home renovations or improvements can significantly increase the value of the property.

3. Cover major expenses: Whether it is financing a child's education, paying medical bills or dealing with unforeseen emergencies, a Cashout Refinance can provide you with the funds needed to address major expenses.

4. Acquire investment properties: By using a Cashout Refinance to acquire investment properties, homeowners can create a source of passive income and potentially pass down these assets to future generations, facilitating the growth of generational wealth.

Laura Johnson has lived in Tehachapi for 49 years and her family's history in Tehachapi spans over 150 years. Laura has been in lending for 14 years and the real estate industry for 24 years. If you would like more information to see if a Cashout Refinance is right for you please reach out to Jeff Lamonte (805) 794-0444 or Laura Johnson (661) 303-7853.