Cash Out

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Access your equity

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.

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

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 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

Honolulu HomeLoans, NMLS #314918, is Hawaii's largest locally owned mortgage banker, helping thousands of Hawaii families obtain their dream home or refinance their current property. Our vision is to consistently bring a positive, progressive lending experience and a wide variety of products at a competitive price to all walks of life. With more than 1,000 combined years in the real estate, finance and mortgage banking industries, HHL is also Hawaii's most experienced mortgage company. ...

 

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. - NMLS: 314918
745 Fort Street #1001
Honolulu, Hawaii 96813
Phone: (808) 681-7500
Email: info@honhl.com

 

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