What is the best way to tap into the Equity in your home?
Kevin Turner, President & Loan Officer
Clear Path Mortgage
Phone: (770) 400-0097
Email: [email protected]
NMLS# 1506200
Company NMLS# 2244958
Licensed in: AL, GA
Clear Path Mortgage is an Equal Housing Opportunity Lender
A cash-out refinance replaces your mortgage and can turn equity into cash at closing. A HELOC is a line of credit secured by that same equity. Answer four questions, then grab a time with .
Step of 4
)) THE EQUITY IS ALREADY IN THE HOUSE. Two ways to use it. Both are secured by your home. They do different jobs. This is education, not a rate quote or a commitment to lend. Cash-out refinance One new mortgage. Cash at closing. Refinancing replaces your current mortgage with a new one. A cash-out refinance can be larger than what you owe, so the difference can come to you as cash. The rate and term reset on the whole balance. HELOC Borrow, repay, borrow again. A HELOC is a revolving line of credit secured by your home's equity. During the draw period you can take what you need, pay it down, and use it again. Your first mortgage can stay in place. The rate is often lower than a credit card, and it can change. Reasons to access equity. Equity is the gap between what the home is worth and what you still owe. These are the jobs that cash usually has to do. None of them is an approval. reasons.map((item) => (
walks through a cash-out refinance and a HELOC.
Straight answers before you pick a cash-out refinance or a HELOC.
, at . Call , email , or open his calendar and choose a slot.
NMLS #
61 Linton St., Woodstock, GA
cp.mortgage
NMLS Consumer Access
. Information on this page is for education. It is not a commitment to lend, a rate lock, or an appraisal. How much equity you can access depends on credit, income, the property, and current guidelines.