Pre-Approval

Pre-qualification takes the guess work out of house hunting and refinance options. Complete a short form and your information will be reviewed by the appropriate mortgage specialist. At this point, your information will not be verified which means no credit checks or employment verification. This is an opportunity to receive a free, no obligation mortgage plan from a lending team you can trust.

Cash Out Refinancing

Cash out refinancing is in the case of real property, when a loan is placed by an owner on property already owned, and the loan amount is above and beyond the cost of transaction, payoff of existing liens, and related expenses.

Definition
Strictly speaking all refinancing of debt is "cash-out," when funds retrieved are utilized for anything other than repaying an existing lien. In the case of common usage of the term, the phrase refers to when equity is liquidated from a property above and beyond sum of the payoff of existing loans held in lien on the property, loan fees, costs associated with the loan, taxes, insurance, tax reserves, insurance reserves, and in the past any other non-lien debt held in the name of the owner being paid by loan proceeds.