Want more spending money and financial freedom? A cash-out refinance may be the right
choice. You can consolidate any high-interest debt into one new primary mortgage using the
equity you’ve built up in your home.
Fast Facts
What is equity, and how can it help me?
If the current value of your home is greater than your current mortgage balance, you have home equity. The more equity you have, the more money you may be able to get from a cash-out refinance.
Can a cash-out refinance lower my monthly debt payments?
Yes! You can make one low monthly payment instead of several and pay less overall every month.
What about closing costs?
It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing.
Cash-Out Refinance Advantages
Streamline Your Bills
With a cash-out refinance, you can pay off high-interest debt like credit card balances and student loans. By paying off your high-interest debts faster, you can improve your credit rating.
Stay at Home Longer
Planning on staying in your home? Use the cash for renovations that can add value to your home. Bathrooms, kitchens, outdoor decks – now is the time to do it.
Explore More Options
Want to pay for college tuition, add to your retirement fund or invest in a summer home? With a cash-out refinance, you get the freedom you need.
For more information about a cash-out refinance, visit unionplusmortgage.com or call 855 UNION 53 (855-864-6653).
The AFL-CIO, Union Privilege and a group of unions own Union Plus Mortgage Company and will benefit if you get your loan through the company. However, you are not required to use Union Plus Mortgage for your loan and are free to shop. For your Affiliated Business Arrangement Disclosure Statement, please visit www.unionplusmortgage.com.
Union Plus Mortgage Company has a services agreement with Union Privilege in which Union Privilege receives a financial benefit for providing agreed upon services.
Only union members of participating unions affiliated with the AFL-CIO, their parents and children who receive a mortgage from the Union Plus Mortgage Company are eligible for the mortgage assistance program. Only members of participating unions who receive a mortgage from the Union Plus Mortgage Company are eligible for the First-Time Homebuyer Award.
NMLS Number 1561829
.
Looking for new ways to save more money? A cash-out refinance can help you consolidate any high-interest debt into one new primary mortgage. Leverage the equity you've built up in your home to reduce interest charges on high-interest debt like credit cards and student loans.