Home loan professional Rob Spinosa of www.themortgagedictionary.com provides a basic explanation of a cash out refinance and defines this type of mortgage transaction. In addition to answering the question, “What is a cash out refinance?”, Rob looks at some examples where a cash-out refi can be effectively used; such as to facilitate a home improvement project, permit monthly savings through debt consolidation or “buy out” a spouse in a divorce situation. The guidelines for pre-approval and qualifying for a cash out refinance are covered in this video, as is a comparison between a cash out and a rate and term refinance. Mortgage interest rate quotes will also be affected by cash taken out at close of escrow, and the loan-to-value (LTV) or equity position in the home. Rob goes over all of this within 3 minutes and helps you understand the loan process. For more information or to begin the pre-approval process, contact Rob Spinosa at rspinosa@rpm-mtg.com or by phone at 877-270-5959. Rob is a mortgage banker at RPM Mortgage in Mill Valley, California, just north of San Francisco. He is able to assist anyone in the state of CA, and can be found on social media platforms as below www.facebook.com www.twitter.com www.linkedin.com …

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Cash Out Refinance