In most cases, a refinance of the first mortgage loan can be the best way to cash out the property's equity for debt consolidation.

Interest rates for first mortgage loans normally have lower interest rates than home equity and second mortgage loans. The borrower also receives the advantage of only one mortgage payment, instead of two.

However, conforming programs limit cash-out refinances to only 75%-80% of the property's value. Nonconforming programs do allow cash-out refinances to 100% of the property's value—at higher interest rates. For more information, please review the "Refinance Loans" article in this section.

We hope that you've found our Mortgage and Real Estate Resource helpful and informative. We welcome all comments, critiques and suggestions; please send emails to [email protected]. Remember that whether your are buying a home or an office building, you are investing in real estate. As with all investments, the best investors are those who can gather the most knowledge, tools and resources. Regardless of whether you use our lending services, please spread the word about our resource center to anyone you know who may benefit from our site.

Was this article helpful?

0 0
Debt Consolidation Strategies

Debt Consolidation Strategies

How A New Debt Consolidation Strategies Help Me Break Free From My Debt! This Book Is One Of The Most Valuable Resources To Managing Debts Effectively!

Get My Free Ebook

Post a comment