If you’ve built up home equity, why not take advantage of it? When you’re looking to get cash out of your home, Quicken Loans is here to help you finance your needs and goals! Think of all the things you could do with a little extra cash – just call America’s Home Loan Experts with over 26 years of experience to get started on refinancing and lowering your payment!
Does This Sound Like You?
Whether you’re making improvements to your home, paying off college tuition, minimizing credit card debt, or even purchasing that vacation home of your dreams, getting cash from your home will help! If you’ve reached the age of 62, you’re eligible to gain access to your equity with a reverse mortgage through our partner, One Reverse Mortgage!
What Are the Home Loan Options That Fit Your Goal?
Not sure of the best option to get cash from your home? If you’re not yet 62, or are not interested in a reverse mortgage, we’ve got plenty of other choices that will suit your unique needs! From ARMs to VA loans, Quicken Loans will help you access the equity you’ve worked so hard to build!
Adjustable Rate Mortgage
The ARM (adjustable rate mortgage) has the lowest rate around! It might be an excellent choice if you’re looking to pay off your home in half the time, saving thousands!
As a reminder, rate adjustments are capped at 5% above your initial rate and 2% or 5% per adjustment period. This means if your initial interest rate is 3.99%, your rate will never be higher than 8.99%, and will never rise more than 2% per year. Wow! Talk about savings!
30-Year Fixed-Rate Loan
As the length of your loan increases, it’s only natural for your monthly payment to decrease! With a 30-year fixed-rate loan , payments are low and steady, leaving you with that peace-of-mind feeling that there won’t be any surprises hitting your budget! It’s a great refinance option if you’re looking to cash-out up to 95% of your home’s value.
FHA Streamline Refinance
A simple qualification process, government-backed security, and a lower payment to help you consolidate debt? It might sound too good to be true, but an FHA Streamline Refinance offers you the same great features as your current FHA loan and works to make your monthly rate cost less! With a streamline refinance, there are minimal credit requirements, no appraisal required, and a simple qualification process. Up to 85% of your home’s value is available on a cash-out refinance!
We’ve got super rate-saving options for veterans, too! Apart from the no down payment guarantee that saves you money up front, VA loans are available with flexible options for getting cash from your home. Up to $325,000 is accessible on a cash-out refinance, or 90% of your home’s worth.