Is a cash-out refinance right for you?
Here are a few benefits
Improve Your Credit Score
When you apply the funds from a cash-out refinance to pay off high interest revolving debt, it not only saves you money, it can also improve your credit score by reducing your balance to credit limit ratio.
Consolidate Expensive Debt
With credit cards paid down, or paid off in full, credit utilization goes way down, which could also save thousands and make credit available to you again.
Unlike credit card interest, mortgage interest payments are tax deductible. That means a cash-out refinance could reduce your taxable income, therefore giving you a bigger tax refund at the end of the year.