A refinance transaction can help you take advantage of your real estate investments. The maximum refinance value is up to 80% of the appraised value, less the outstanding debts registered on title. During a refinance, the amortization and loan amount is adjusted and the ability to add a Home Equity Line of Credit is available.
There are many reasons why individuals refinance their home:
– Credit consolidation – Home renovations – Adding a home equity line of credit – Investment in real estate or other opportunities – Vacation properties – Education costs – Unexpected expenses – New business/Self employment – Retirement planning via supplementary income – Travel – Tax planning purposes – Create a financial buffer for future needs