Cash out refinance vs. rate and term refinance by JMarston from Charlotte, North Carolina. Nov 19th 2012
The pricing for a Cash Out transaction is higher than a rate and term refi.. however, depending on your loan amount and LTV, it's possible that the pricing hit will be insignificant, or the lender might absorb it and not pass on the added cost to you.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
It depends on the loan to value(LTV). The higher the LTV, the higher the rate.
It depends on your loan to value (ltv). The higher the LTV, the higher the rate.
HI Mr./Ms Marston-Fannie Mae and Freddie Mac both have pricing hits for cash out refinances. The rate is not always affected, but the cost of the loan is.It all depends upon your loan to value and your credit score as well. If it is a FHA or VA loan then there is no difference in the pricing or rate.If you would like me to look at your scenario for you, I will be more than happy to do so. My email is church.team@lionbank.com.Have a wonderful day!Regards,Mac
Yep depends on the loan vs the value.. Check your value at www.Zillow.comanything over 80% will cost more
Not necessarily... If your new loan to value is less that 60% and your credit score is over 680 the rate would not be effected. Once you exceed 60% LTV the impact to the rate increase in 10% LTV increments. Email me direct for more information. Rob@mortgageauthority.com
Generally yes, but it depends on the amount of the mortgage compared to the appraised value and your credit score and the type of loan that makes the most sense for your situation. Call or email me for help anytime: pdumouchel@primelending.com or 843-619-6025
Generally yes, but often not significantly higher. It really depends on the details of your application and qualifications: credit profile, whether the home is your residence, the value of the home compared to the loan amount, etc. I'd welcome the opportunity to earn your business; I can explain your options and answer any questions. 843-619-6025 or pdumouchel@primelending.com
Yes, it is usually a little higher rate for a cash out refi. The higher your loan to value goes up the higher the rate will go. Good luck!
Generally it is slightly higher. But it depends on Loan to Value
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