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Refinance

Cash-Out Refinance: When Does It Make Sense?

A cash-out refinance allows you to access the equity in your home for extra cash if you have considerable equity in the home. For example, if your home is worth $250,000 and you still owe $150,000, you could take out a new loan for $180,000, pay off the existing loan amount and use the remaining $30,000 to consolidate credit card debt.

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Is a Cash-Out Refinance Right for You?

Is a Cash-Out Refinance Right for You?

With the lowest mortgage rates in recent memory, you might be considering refinancing your mortgage and potentially getting cash out. Whether you pay off debts with a higher interest rate (student loans or credit cards, for example), make some much-needed home improvements, or reduce your monthly payment, refinancing may benefit your family’s financial situation.

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