Renovate Your Home by Refinancing
Would you like to make home improvements or update your home? Perhaps create additional living space for your growing or extended family?
Many individuals make the common mistake of paying for remodeling repairs with their personal credit cards. However, experts recommend refinancing your existing mortgage to take advantage of the equity you’ve built in your home. UNMB Home Loans Inc. has refinance options that can give you extra funds to help renovate or repurpose your home to fit your need or style. Keep in mind that by refinancing your existing loan, the total finance charges may be higher over the life of the loan.
Refinancing to Renovate Solutions
A cash-out refinance taps into the equity you have in your home by refinancing your current mortgage and customizing a new home loan for more than is currently owed on your home. Unlike home equity loans (HELOC’s)and reverse mortgages, this program is not a second mortgage on your home. It is simply refinancing your current mortgage.