Getting cash from your home
Home Equity Loan
When you need money and don’t want to pull it from your savings or IRA account a Home Equity loan is a great way to get cash out from your home. The process is pretty simple and we will add the amount of cash out you want to your existing loan balance creating a new loan. The Home Equity Loans process includes getting a new appraisal based off of the current market value of the property. Once that is established here in Texas we can lend you 80% or less of the value of the appraisal. If your loan balance is over 80% of the appraised value you would not qualify to get cash out of your home.
Advantages of Getting Cash Out
- Investing the money
- Taking a vacation
- Paying off credit cards
- Paying off medical bills
- Updating the house
- Building a pool
- Putting it in the bank
- Saving money
- Roll the closing costs in the loan
- No money out of pocket
- Possible tax deductions
Disadvantages of Getting Cash Out
- Raising your loan balance
- Using the money for the wrong reasons
- Loaning the money to friends & family
- Taking a higher interest rate if the market is higher
Learn More
At Texas Premier Mortgage, we believe the best consumer experience begins with clear and consistent communication. Our clients are never left guessing, as we provide timely updates and guidance throughout every step of the mortgage process. By combining speed with advanced technology, we streamline applications, approvals, and closings, saving our clients valuable time. This balance ensures a smooth, stress-free experience that puts our clients first.