A Cash-Out Refinance is a financing method that allows homeowners to tap into their home equity by refinancing their current mortgage for a more significant sum of money. The homeowners receive the difference between the new and original mortgage in cash and can use it as they wish.
A Reverse mortgage is a loan available to qualifying homeowners aged 62 or older, allowing them to convert a portion of their home equity into cash. It's a valuable financial tool for seniors looking to access their home equity during retirement.
A Renovation loan is a unique financial solution that caters to homeowners looking to make significant improvements to their properties. Unlike traditional home loans or personal loans, this form of financing is tailored to address the expenses associated with home remodeling and renovation projects.
A VA Cash-Out Refinance is a Department of Veterans Affairs-backed loan that allows homeowners to exchange their home equity for cash while replacing their current mortgage with a new one under different terms.
If you’re looking to build your own home, then you’ll want to consider a One-Time Close Loan with New American Funding. This option allows you to purchase the property, pay for the new construction and secure the mortgage with one single loan.