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I purchased my house in cash but would like to get money from the house for some upgrades. How do i do that?

by mandy68391 from Sapulpa, Oklahoma. Nov 21st 2017 Reply


Mandy, you can do a cash out refinance to get equity out of the house. Please feel free to call me anytime at 918-557-1190 and we can go over all the options. Thank you, Heath Collins.

Nov 21st 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,333 contributions

More info needed, but there are a couple of ways.. one is Delayed Financing.. this is if you purchased the home inside of the last 6 months, and you can document the funds to purchase the home came from your funds.. under this type of cash out refi, the terms are a little more favorable.. if you are outside of 6 months.. then you can do a cash out refinance.. the rate and terms are dictated by what your loan to value (LTV) ultimately ends up being.. for LTV's at or below 60%, there are no pricing hits and you would get the best rates.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 21st 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,697 contributions

Simply contact a local mortgage broker, give them a full application, and let them zero in on your loan options. Special rules apply depending on how long ago you purchased the house with cash, and if you are just looking to get the money back you put in, or if you are looking for additional cash above and beyond the amount used to buy the house. For this situation in MN, WI, or SD, visit me at www.JoeMetzler.com

Nov 22nd 2017
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