HomeLoan ProgramsCashout Refinance   
HomeCurrent RatesPre-QualifyCalculatorsLoan FAQ's About UsContact Us
Loan Programs
Loan Programs
Conventional Loans
  Pre-Approved Loan
  FHA Loans
  Imperfect or Bad Credit
  Debt Consolidation
  FHA Mortgage
  FHA Streamline Refinance
  FHA Mortgage Insurance
  VA Loans
  VA Streamline Refinance
  No Money Down
  103% Financing
  Cashout Refinance
  Construct to Permanent
  Home Equity Line of Credit
  Investment Property
  ARM to ARM No Cost Refinance
  No Doc Refinance
Subprime/Bad Credit Loans
  Bankruptcy and Foreclosure
  Credit Repair
  Debt Consolidation
  Subprime FHA Loans
  Subprime VA Loans
  Low Down Payment
  No Income Verification
Home Buyer's Guide
Understanding Credit Scores
Mortgage Calculators
Mortgage and Loan FAQ's
Mortgage Glossary
Apply Online
About Us

Conventional Loans

Cashout Refinance

Cashing out refers to the refinancing of a loan where the borrowers will borrow money on their own home. If a home is appraised at $100,000 and the borrower's outstanding mortgage loan is $60,000, it is possible to enter into an 80% cash-out refinance transaction for a loan of $80,000 (80% of $100,000). The new mortgage of $80,000 will pay off the $60,000 loan and leave $20,000 cash-out to the borrowers.

What are the benefits?
By cashing out on your home, you can obtain cash on the value of your own home to pay off debts or upcoming expenses. The refinance transaction can also provide you with a better mortgage loan interest rate that will save on your monthly mortgage payments during the loan. And it's tax-deductible.

How can we help?
If you are looking for this type of refinancing, American Mortgage Consultants can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes, Non-owner occupied homes, and No income verification with low, affordable rates

Apply for this loan today!

If there is ever anything that we can do to help you along, please email us at help@americanmtg.com
HomeCurrent RatesPre-QualifyCalculatorsLoan FAQ's About UsContact Us
© 2001-2006 American Mortgage Consultants | Privacy Policy | Sitemap
Click Here Now To Get Approved In Seconds!