A refinancing loan that exceeds the amount of the balance owed on a mortgage. Equity in the home is used as collateral for the cash back portion of the loan. For example, a mortgage amount of $60,000 on a home worth $100,000 might be refinanced for an amount of $100,000 with $40,000 made available in cash. Homeowners often use this type of loan to pay for expenses such as home improvement or continuing education. A low interest rate on a cash back mortgage refinance loan may also make it attractive to borrowers who wish to pay off higher interest credit card loans and consolidate their debt.
Related information about cash back mortgage refinance loan:
- Understanding Cash back Mortgage Refinance Loans
Learn how to raise the money you need by leveraging your home with a cash back mortgage refinance loan.
- Cash Back Mortgage Refinance Loan - Mortgage Glossary | Quicken ...
Cash Back Mortgage Refinance Loan definition from the mortgage glossary at QuickenLoans.com. Learn mortgage terms and jargon with the Quicken Loans ...
- What is cash back mortgage refinance loan? definition and meaning
Definition of cash back mortgage refinance loan: A refinancing loan that exceeds the amount of the balance owed on a mortgage. Equity in the home is used as ...
- Cash Out Refinance Mortgage - Home Mortgage Refinance ...
Take the Versatile Cash out Refinance loan for a Variety of Needs. Get cash out refinance, cash back mortgage refinance loan to obtain the ready money out ...
- What Is a Cash-Back Mortgage? | eHow.com
On the other hand, when you take out a cash-back mortgage refinance loan, you get the amount of equity that you have built up in your house in cash.
- Chat Online Now
We offer competitive mortgage loan rates and may be able to provide you with a cash back mortgage refinance loan so that you recieve cash back from the ...
- Cash Out Refinance vs. Home Equity Loan. Making The Choice
Depending on the difference in interest rates between your original mortgage loan and your cash back mortgage refinance loan, it is possible to keep your ...
- Cash Out Refinance Mortgage|California
Getting a Cash Back Mortgage Refinance Loan not only provides you with a better interest rate on the mortgage that you have, it also allows you to save on the ...