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Home Equity Loan & Cash Out Refinance

Cash-out refinance is a popular home financing option that can offer numerous benefits to homeowners in Idaho. In this article, we’ll explore some of the key benefits of a cash-out refinance on your home.

• Access to Equity: A cash-out refinance allows homeowners to access the equity they have built up in their home. This equity can be used for various purposes, such as home improvements, paying off high-interest debt, or funding a large expense. By accessing this equity, homeowners can take advantage of their hard-earned investment in their home.
• Lower Interest Rates: Refinancing can often result in a lower interest rate on credit cards and installment loans, potentially reducing monthly payments. This can free up cash flow and help homeowners save money.
• Flexibility: A cash-out refinance offers homeowners the flexibility to choose a new loan term that fits their financial goals and budget. Whether they want a shorter term for a faster pay-off or a longer term for lower monthly payments, a cash-out refinance can provide options that work for them.
• Debt Consolidation: A cash-out refinance can also be used as a tool for debt consolidation, as homeowners can use the funds from the refinance to pay off high-interest credit card debt, personal loans, or other debts. This can help reduce monthly debt payments and improve overall financial stability.
• Improved Credit Score: By using a cash-out refinance to pay off high-interest debt and reducing monthly debt payments, homeowners can improve their credit score. This can open up opportunities for better loan rates in the future and improve overall financial health.

A cash-out refinance can offer numerous benefits to homeowners in Idaho, including access to equity, lower interest rates, flexibility, debt consolidation, and improved credit scores. If you are a homeowner looking to tap into your equity, pay off debt, or simply lower your monthly mortgage payments, a cash-out refinance may be a smart option to consider. It is important to carefully consider all options and speak with a financial advisor or mortgage professional, like 1st Choice Mortgage, to determine if a cash-out refinance is right for you.

Cash Out Refinancing

CASH OUT REFINANCE PROGRAM AVAILABLE!

Access your equity and make it work for you!

• VA or Veterans Administration Cash Out refinance, up to 100% of value.
• VA FICO Score down to a 620
• FHA Cash Out Refiannce up to 85% of value.
• FHA FICO Score down to a 620
• Conventional Cash Out Refinance up to 80% of value.
• Conventional FICO scores down to a 620.
• CALL A LOAN ADVISOR TODAY!

Home Equity Line of Credit

Benefits of home equity line of credit

Access your equity and make it work for you!

• Pay off high interest rate credit cards.
• Purchase an Investment Property.
• Pay off medical bills.
• Purchase that dream RV or Boat.
• Add that extra bedroom or bonus room. Improve & Upgrade!
• Update applicances in your Kitchen.
• Add landscaping or hot tub or pool.
• Emergency funds.

1st Choice Home Equity Line of Credit (HELOC) Program

Flexable, timely and efficient

• Loan up to 89.999% of the value of the home for primary homes
• Loan up to 70.00% of the value of the home for Investors
• Can be combined with 1st mortgage for up to 89.99% Combined Loan to Value 70% for investment.
• Fully Amortized Principal and Interest payment HELOC available.
• Interest Only HELOCs available
• Up to a 10 year Draw Period.
• CALL TODAY for Compete Details!

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