Pull Cash From Your Home

Pulling Cash From Your Home

The equity in your home is often the cheapest money you can borrow; however, it is also the last option consumers typically think of when they need to borrow money.  You may pull cash from the equity in your home for various reasons, such as that home improvement project you have been dreaming of for years, paying your kids college tuition, putting a down payment on a second home or investment property or to invest in a new business venture.  Rebecca Foote Mortgage Team will assist you in helping you determine the best solution to access the equity in your home for your specific purpose of needing these funds.

Benefits of Pulling Cash From Your Home

• Cheaper alternative to a renovation loan for your home improvement project.
• Ability to fix your payment for up to 30 years.
• Tax advantages over unsecured loans.
• May be less costly than student loans.

Using the Equity In Your Home

• Pay off other debts.
• Pay for a remodel or other home inprovement.
• Make other investments.
• Pay for a large ticket item.

Most Popular Loan Options

Conventional Loan

• As little as 3% down payment with excellent credit.
• Fixed rate.

USDA Rural Housing Loan

• No money down.
• The seller, your relatives or your friends may pay your closing costs.

FHA Loan

• Only 3.5% down payment.
• The seller or your relatives may pay your closing costs.
• No income thresholds.

VA Loan

• No money down.
• No monthly mortgage insurance (PMI).
• Available to eligible Veterans and active military members.

Adjustable Rate Loan

• Lower initial payment is great for home buyers planning on selling and moving after 3 to 7 years.