Does it cost to take equity out of my home?

You have asked a very general question as some fees are tied to your loan amount. You will pay standard closing costs with a slight increase in pricing for a cash out refinance vs. a rate and term refinance(no cash out). So the rate could be slightly higher. Best is to consult with your chosen lender and provide your specific scenario to get an accurate cost. Feel free to contact me at 877-369-4319.

Although there are age and equity requirements a Revrese Mortgage may be an option. There are significant costs with a reverse loan but there are no payments or income requirements. Minimum age is 62. Feel free to call if you have any further questions. Rick G. 951-634-3443

You have several options available to you: Cash out loan, equity line or FHA 203K renovation loan. Rates are so low I do not think you would go wrong with choosing any of them; however, it would be frivilous of me to recommend one over the other without knowing the specifics of your situation: Credit scores, loan to value, amount of cash out needed/wanted, etc. All of these things can (and do) affect the pricing on a mortgage loan. Give me a call for a thorough evaluation of your options...no pressure, no fee. 619.787.8212