EP170: How Does a Cash-Out Refi Work and is it Right for Me?
Episode description
On the show today I am breaking down the Cash-Out Refinance strategy.
Many people are noticing a high uptick in the value of their homes, and with this uptick in value comes an increase in home equity.
So what can you do with the equity in your home, how does it work, and what are the risks?
In this episode I am going to break down:
- How to calculate your home's equity
- How much of the equity you can actually tap into
- The process of of a cash-out refinance
- Reasons for going with a cash-out refi
- The risks the banks forge to tell you about
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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011.
If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.
All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session170