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Refi 101: What Is A Cash-Out Refinance?

Refinancing may get you a lower interest rate or a different term - but did you know you can also refi to put a litter extra money in your pocket? In a cash-out refi, you borrow more than you owe on your mortgage, pay off the mortgage, and use the rest on something else (such as consolidating high-interest debt or making home improvements.) But be careful: a cash-out refi might come with a higher interest rate, depending on your situation.


Not sure if it's time to refinance? Give us a call or visit www.polarishfcohio.com, we'd love to talk!



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