Tap Into Your Home Equity

You have choices.

Get Cash From Your Home And Put Your Equity To Work For You

If you’re considering a cash out refinance to cover the cost of home improvements, credit card debt, or unexpected medical expenses, we at American Pacific Mortgage are here to help.

To get cash from your home, you can do a couple of things. You can get a home equity line of credit (Heloc), or you can refinance your mortgage and get extra cash at closing through a cash-out refinance.

What is home equity? Equity is your ownership in your home, or the difference between what your home is worth and what you owe on the mortgages or liens.

You can build and increase the equity in your home in the following ways:

  • The appreciation of your home’s value over time
  • Renovations or improvements made that increase the value
  • Cash provided for the original down payment (depending on value and market conditions)
  • Payments made toward the principal balance of the mortgage

What can a cash out refinance be used for? Anything you want. Make improvements to your home, put money down on a second home or investment property, pay for school, take a vacation, purchase an automobile, fund your retirement … it is your cash, and you can do what you like with it!

A cash out loan with a low interest rate may be a better solution than high-interest credit cards if you have unexpected medical bills, unforeseen expenses, or surprise improvements that need to be made on your home.

How much cash can you get from your home? Our mortgage calculator can show you how much your monthly payments would be with a new loan or additional home equity line of credit. Apply online to get cash from your home today.

Wondering about your options? Our American Pacific Mortgage loan advisors can go over all of your refinance options to help you discover the perfect solution to your cash needs. We will show you the difference between a cash out refinance compared to a home equity line of credit so you can confidently choose the right program for you. Find an advisor to show you how to get cash from your home and guide you through the refinance process.

CASH OUT OPTIONS

Cash Out Refinance

Refinance your existing mortgage and receive the cash equity from your home. A Fixed Rate term, will give you the peace of mind knowing that your rates and payments will remain the same throughout the life of your new loan. If rates drop lower in the future, you can always refinance to get a lower monthly payment.

Refinance with an Adjustable Rate for even lower interest and monthly payments for a determined period of time. If you have short term goals and want to maximize your available cash for a period of five, seven, or even ten years, an Adjustable Rate may help you reach them.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) allows you to draw and pay interest only on an amount that you need. Instead of taking all your equity out at once, you can have a draw period of many years in which you can access your cash when you need it. A HELOC typically only requires an interest only payment during the draw period, making it a flexible tool when you want to borrow only the amount you need when you need it.

Home Equity Loan

A Home Equity Loan is a one time loan with a fixed interest rate and the same payments each month, paid off over a determined amount of time. When you know exactly how much you need for a one time purchase, bill, or repair, a Home Equity Loan can be a valuable tool to access a lump sum.

About Us

We've been helping members afford the home of their dreams for many years and we love what we do.

CU NMLS: 1758819
www.nmlsconsumeraccess.org

Contact Us

PO Box 276507
Sacramento, CA 95827-6507
Phone: (800) 542-2247
Homeloan@cahpcu.org

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© 2024 All information contained herein is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.