Maryland Cash Out Refinance

 

A mortgage refinance is a good way to lower your monthly mortgage payments. Typically, when you refinance your mortgage you lower interest rates and also stand to enjoy lower insurance charges and property tax charged on your home. But that is not all; you can also get cash from the refinance if you opt for a cash out option.

In Maryland, you can do a cash out refinance for almost any loan, including conventional, FHA and VA mortgage loans. Depending on the type of loan and the lender, you may also be able to do a refinance without regards to the kind of property that you took out the original loan for. That leaves room for you to refinance a variety of properties, including a primary residence, second home, or even an investment property.

As is the case with any other type of mortgage loan, before your Maryland cash out refinance is approved your lender’s underwriter will first check to confirm whether you are eligible for the cash out refinance you are applying for. That includes checking records like your credit score, mortgage repayment history, income records and the appraised value of the house. Again, depending on the lender and type of loan, you may have to produce new records, or they may simply use the records you used to apply for the original mortgage.

If you want to know whether you qualify for a Maryland cash refinance simply talk to us, and we will help by evaluating your records for you. In case you qualify you can also apply directly through TJC Mortgage. Our application process is very simple, and we have experts on standby who will guide you through the application process and ensure that your refinance is approved.

Maryland City Mortgage Service Areas