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Refinance your mortgage to cash out your equity

Free up some cash! Refinance your mortgage to put your assets toward other financial goals.

OVERVIEW

Rates as low as 6.125% / 7.829% APR¹

With home values on the rise and low mortgage rates, now may be a favorable time to choose a Mortgage Cash-Out Refi and use the extra cash to fund other investments.

The equity in your home is a valuable financial tool for many reasons. Refinancing a mortgage allows you to tap into your home's equity and access cash to use as you wish.  Called a cash-out refinance, this type of mortgage replaces your exsiting loan for more than you currently owe, giving you the difference as cash. 

You can add value to your home by remodeling a room or making other home improvements, or use the money to consolidate debt. There are always pros and cons to consider, and we'd be happy to walk you through the details. Learn more about a cash-out refi, or start your mortgage application now with local lenders who are ready to help!

Call (863) 688-8443 or toll free (855) 915-4663, or find a local mortgage specialist.

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Why Choose MIDFLORIDA for your Mortgage Loan?

At MIDFLORIDA, our lenders are local—we know the community and we're easily accessible when you need us. Being local also means fast decisions and quick closings. Call today and let our team of experts work hard to find the perfect loan for you.

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Notices & Disclosures
1
MIDFLORIDA Credit Union Membership, eligibility, and credit approval required. Available for purchases or refinances loans of a primary residence with a maximum loan amount of $2,400,000. Cash out is defined as amount requested above existing first lien. If home is currently free and clear, cash out will equal loan amount. 6.125% is a 1-year promotional rate. 1. Payment example: Based on a minimum credit score of 720, a 30-year adjustable rate mortgage purchase loan for $300,000, with minimum 20% down at 6.250% interest rate has an Annual Percentage Rate (APR) of 7.829%. The monthly principal and interest payments are $1,822.83 during the first 12 months. The interest rate may adjust once every 12 months thereafter, based on the 1-year US Treasury Bill rate (5.110% as of June 20, 2024) plus a margin of 2.75%, with a maximum interest increase of 4% over the rate at closing. The monthly payment amount after the first adjustment based on current rates will be $2,016.91 and the highest possible monthly payment during the life of the loan could be $2,618.00. Payment example does not include amounts for taxes or insurance premiums; the actual payment will be greater. Promotional Rate and Margin may vary based on credit history and underwriting guidelines. Advertised terms are valid as of June 20, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details.