A Cash-out refinance enables you to take cash out of your home for whatever purpose you choose.
Generally, you are able to take up to 80% of the value of your home.
Example: Your home is worth $500,000.00
80% of the $500,000 is $400,000.00
You owe $150,000 on your current mortgage
You can borrow up to $400,000, payoff the $150,000 and receive $250,000 for your own use.
Wilson Mortgage Services, Inc. is licensed by the PA Department of Banking and the FL Office of Financial Regulation
