Hey everybody, you’ve heard correctly! Interest rates have gone up a little bit, but cash out refinances are still a big deal and they’re saving people a ton of money.
In fact, check out this experience from one of our recent clients:
I am 50 years old, I live in Eagle mountain and I have a family of four kids and a wife. Throughout my life there have been, there have been lots of highs and lots of lows. There’ve been some times where I literally go to bed thinking, “oh, what’s my problem tomorrow? What’s going to drop? What’s going to come in the mail? Are we past due on this?” Or if we have some problems and a car stops working, I would think, “how am I going to afford to pay to get a new car?”
Since the refinance, I would probably say my life’s exponentially better than it was before. Everything has just gotten more comfortable. And I don’t feel like I’m living paycheck to paycheck or anything like that. I feel like if we decide to go to dinner, we don’t have to check all the accounts and say, “well, can we go?” We can just go to dinner. Instead of having zero in savings all the time, we have a savings. We’re able to live better.
And I don’t think about a lot of things that I thought about before. Those problems have kind of just gone away. Just to have these things that, when you go to bed at night, you’re not thinking, “Is it going to make it another day?” Or, “are we gonna be able to get this thing repaired that we need to get repaired?
Now if a car has a problem with tires, we can afford to throw a couple new tires on. Just things like that, that weigh on you. We don’t have that weight anymore.
My biggest advice would be to find someone you trust, sit down with them, and just talk to them about your real situation, and then understand how credit works. And, when you work with Eric or Darren here, they will help you with that. They’ll tell you how to do that.
In some cases you can consolidate debt and you get done with a refinance and you have no debt, you have just that mortgage that you’re paying for. That’s all. Or you can use the extra money to pay for improvements, whatever you need to do. But it puts the power back on your side.
I can’t tell you how much it’s changed my life. It’s really changed our life a lot just to be able to call the shots and know where I am, know where I stand.
Reach out to us to find out what a cash-out refinance could do for you!
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