Whether you want to finally install that deck, pay for your kids’ tuition, revamp your home office, or you just need a bit more breathing room in your budget, a second mortgage or property loan from Sunlite Mortgage can help you.
A cash-out refinance allows you to refinance your existing loan for an amount higher than what you owe now, and use the difference as you see fit. Some of the popular reasons to refinance your current mortgage include:
You could get a second mortgage on your home to access up to 90% of the value of your home. This is an attractive option for many homeowners who want to redirect their finances and keep their existing mortgage rate.As long as you have more than 20% equity in your home, you will generally be approved to access the equity of your home. In some cases you never have to prove income and you will be considered even if you have bad credit.
When you refinance your mortgage – also known as a property loan – you will be able to take equity out of your home to pay off higher-interest debts. Instead of making several monthly payments, you could also consolidate your debt to make one lower monthly payment. This option could save you up to 70% in monthly payments, and is more cost-effective than getting a personal loan from a bank.
Sunlite Mortgage Agents are Professionals, and are always available to answer questions and help to understand the important details of the mortgage process. We know everyone’s situation is unique and we’re committed to ensuring you get the best mortgage option for your needs. Apply for a second mortgage now.
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