Cash Out Refinance: Pros and Cons of Refinancing a Mortgage

In this episode we'll go over what a cash out refinance is and talk about the pros and cons of refinancing your home mortgage. A cash-out refinance means you’re taking out a new loan worth more than your original mortgage. In general, you can borrow up to 80% of your home’s value, but this amount depends on which lender you use. You would then use the new loan to pay off the original loan, and you would keep the remaining cash leftover to do whatever you want with it. It can be quite beneficial to your financial situation if done correctly. As an example, we used it to help us with building our rental portfolio! Have you considered cash-out refinancing? ------------------------------ 📷My ENTIRE List of Camera and Recording Equipment: https://www.amazon.com/shop/sharonestee?listId=3JQZS0J36ZCFI 💵FREE Guide on 21 Ways to Make Extra Money: https://digitalnomadquest.com/21-ways-to-make-extra-money-online/ 🚀The ETSY ENTREPRENEUR Course: In this course, I reveal my step-by-step blueprint to help you make an extra $1,000/month in passive income through Etsy. GET MY SECRETS HERE:  https://courses.digitalnomadquest.com/p/the-etsy-entrepreneur  - Get my FREE Passive Income Toolkit: https://digitalnomadquest.com/how-to-get-started-with-passive-income/ ------------------------------ Disclaimer: Sharon is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Some of the links on this video are affiliate links, which means that if you choose to make a purchase, we may receive a commission. This commission comes at no additional cost to you. We only recommend products/services that are helpful and useful to our readers.