Cash Out Refinance - Green River

Flexibility + Cash in Hand.

It only takes a few minutes to start the cashout loan process with Green River Mortgage.

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Transform Your House, Pay Down Your Debts, or Fund a Major Life Change: We Can Effectively Guide You Through Cashout Refinance.

From the very first conversation I had with David Rogove I knew we were in good hands. He was not only honest but he was a "real" person who understood personal situations. He was patient and beyond knowledgeable. His staff (Sammie) was also amazing to work with. Customer service and response time to emails and phone calls were undoubtedly top-notch. David made our nightmare refinance seem like a piece of cake. We can't thank you enough, kudos to Green River Capital Corp! - K

Choose How to Best Use Your Home Equity

Before we explain a cashout loan, we’ll touch on the meaning of “home equity”

Your home equity is the difference between the value of your home, and what you owe on your mortgage.

For example, if your home is worth $500,000 and you have a mortgage on the house for $300,000 then you have $200,000 in available “home equity.

” Said differently, you essentially own $200,000 of your home, or 40% of the current property value.


So, what is a cashout loan?

When you want to free-up your home equity and turn it into available cash, you take out a cashout loan. It’s just like a normal refinance, only your new mortgage lender (who pays off your existing mortgage) is loaning you cash on top of your old mortgage loan.

Using the original example, if your home equity is $200,00 and your old mortgage is $300,000 then your new loan will equal $500,000, and you’ll receive $200,000 in cash from your new lender.
Said differently, you essentially own $200,000 of your home, or 40% of the current property value.

Benefits of Cashout Loans: Flexibility, Cash in Hand, and Good Interest Rates

  • • With a cashout loan, you get to decide how to spend your cash—whether it’s pay off debt, make home improvements, or support your kid through college. It’s all up to you.
  • • In general, mortgages give better interest rates than borrowing money through other methods.
  • • The interest on this type of loan is tax-deductible, and sometimes part of the closing costs are tax deductible, as well.

Must Knows about Cashout Refinance: supporting sentence

  • • Cashout loans are excellent if you have income stability, as your mortgage will be increased by this loan. This means you’ll be paying out more per month than you were before.
  • • Cashout loans will change the terms of your current mortgage, most likely resulting in extending the length of time you have to repay.
  • • There are closing costs that are incurred with every home loan, and usually these fees are paid in cash, or are added into the new mortgage.
  • • Make sure you speak to Green River Mortgage about the risks involved in your specific situation, as property values, your current mortgage situation, and other factors affect whether or not this is the best choice for you.

Contact Us Today

Give us a ring at (866) 407-4418 or Fill out an easy online application today

Contact Us Today

Give us a ring at (866) 407-4418 or Fill out an easy online application today