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Access your equity

If you already have substantial equity in your home, you can access it through a “cash-out refinance” mortgage.

What is home equity? Home equity is the difference between your home’s fair market value and the total balance of any liens or mortgages on your home. Think of it as your ownership interest in your home.

Home equity accumulates in four ways:

  1. Money committed in the original down-payment
  2. Appreciation in the local housing market over time
  3. Physical improvements or renovations to the home
  4. Principal payments on the mortgage itself

Through these four avenues, cash value—or equity—steadily builds up in the property.

Putting your equity to work for you

The good news is that the cash in your home doesn’t have to stay “buried.” If you’ve been thinking about paying off credit card debt, saving money for your children’s college, making home improvements, or adding to your retirement fund, you can put your equity to work for you.

In addition, if an unforeseen expense arises—or your employment situation changes—your home’s equity can help.

Give us a call to see if a cash-out refinance is right for you. We can evaluate your options and help you make an informed decision that’s right for your situation.

About

Weichert Financial Services Established in 1980 in Chatham, New Jersey to offer real estate-related financial assistance to the customers of Weichert, Realtors, Weichert Financial Services has grown by leaps and bounds. Currently serving home buyers and sellers in 36 states, Weichert Financial Services leads the way in full service under one roof, supplying mortgage loans and encompassing both Weichert Insurance Agency and several tittle insurance companies. By seeking out and contracting with ...

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Weichert Financial Services
Phone: (800) 829-2274
Email: wfs@weichertfinancial.com

 

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Company NMLS # 2731 (www.nmlsconsumeraccess.org). Mortgage Access Corp. d/b/a Weichert Financial Services, Executive Offices: 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH.  Licensed Mortgage Lender – AL, AK, AR, CA (Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, File 4130435), CO, CT, DE, DC, FL, GA (Georgia Residential Mortgage Licensee, License #15719), IL (Illinois Residential Mortgage Licensee), IN, IA, KS (Kansas Licensed Mortgage Company), KY, LA, ME, MD, MA (Massachusetts Mortgage Lender and Broker Licenses #MC2731), MI, MN: This is not an offer to enter into an interest rate lock agreement under Minnesota Law, MS (Mississippi Licensed Mortgage Company), NJ(Licensed by the N.J. Department of Banking and Insurance), NM, NY (Licensed Mortgage Banker - NYS Department of Financial Services), NC, OH (Registration #MBMB.850209.000 & SM.501248.000), OK, OR (OR Mortgage Lending License #ML-2528), PA, RI (Rhode Island Licensed Lender and Loan Broker), SC, TN, TX, VA (Licensed by the Virginia State Corporation Commission - Lender License #MC-297, NMLS #2731 (www.nmlsconsumeraccess.org),  WA (WA: Consumer Loan License CL-2731),WV, and WI. Weichert Financial Services arranges loans with third-party providers.   Equal Housing Lender.  Equal Housing Opportunity.

 

 

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