Make home improvements with a cash-out refinance
Turn home equity into liquid assets with a cash-out refinance.
If you need to borrow money for home improvements, a cash-out refinance could be just right. A cash-out refinance of your existing mortgage can turn home equity into liquid assets. Your renovations could cost less by using a lower interest rate from a cash-out than if you put the improvements on a credit card. The interest you pay by refinancing or taking out a home equity loan can be also tax deductible, as well as some of the closing costs.
Elevate your home’s value by re-investing money gained from a cash-out refinance into home improvements. Here are a few ideas that could be worth pursuing with a cash-out refinance:
- Upgrade your kitchen
- Renovate your master bathroom
- Finish your basement
- Build your backyard patio
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.