Providing home loan mortgage financing in Lake, Geauga, Mahoning, Columbiana, Erie, Sandusky, Seneca, Wyandot, Putnam, Hancock, Ottowa, Fulton, Williams, Henry, Defiance, and many more Ohio counties.
Providing financing in Lucas, Cuyahoga, Lorain, Medina, Wood, Summit, Montgomery, Licking, Deleware, Warren, Hamilton, Butler, Franklin, Fairfield, Stark, Wayne, Knox and many other Ohio counties.
Providing home mortgages in Findlay, North Ridgeville, Highland Hills, Beachwood, Moreland Hills, Ashtabula, Rock Creek, Delaware, Franklin, Brunswick, Geauga, Grafton, Lorain, Green, Bath, Sandusky, Port Clinton, Huron and many other Ohio communities.
Providing mortgage financing in Cleveland, Cincinnati, Toledo, Bowling Green, Columbus, Akron, Canton, Avon, Strongsville, Avon Lake, Solon, Dayton, Medina, Wooster, Youngstown, Alliance, Mentor, Elyria and many other Ohio cities.

Unlimited Cash-out Refinances 

Unlimited cash-out refinances are desired by some people looking to utilize all or much of the equity that they have built up into their home. Also, people who own their homes free and clear sometimes are looking to do unlimited cash-out refinances as well. Read throughout the remainder of this page to find out various facts and information about unlimited cash-out refinances.

Unlimited cash out means there is no limit on the amount of money available. They can come in the form of HELOCs or 1st mortgages or a combination of both.

Refinancing with Cash Out is an option but if you are borrowing more than 70% of your home's value, you can expect a little bit higher of an interest rate than if you weren't refinancing with cash out.

If you have a large amount of high interest credit card debt, then it may be beneficial to you to refinance it into your mortgage. The interest on your mortgage is tax deductible, where as the interest on your credit card is not. The tax advantages alone would be worth the refinance, let alone the monthly saving from your credit card debt.

Many people will refinance with a cash-out refinance to simply invest the money and have a larger tax deduction at income tax time. This way there is a good chance that you can make roughly 10+ percent off of the money being taken out of the equity in your home from your cash out refinance, and you are paying a considerably lower interest rate on your mortgage than what you are making from your investment. In addition, you get a bigger mortgage interest tax deduction when preparing your income taxes each year. This is a very common investing strategy with interest rates still being so low.

Before any refinance always be sure that it will benefit your situation and help you achieve your goals.

Whenever possible, cash taken out of your home equity should be spent improving the value of your home. Adding a deck, pool, or additional bedroom will help preserve the value of your home and keep you from getting " under water " or owing more on your home than it is worth.

An unlimited Cash-Out refinance would be used if you were looking to purchase a second home or investment property. Because these type of purchases require a higher down payment than owner-occupied purchase, a cash out refinance is most likely a reasonable option.

The benefits are extra cash on hand and that the interest is tax-deductible, the cash-out portion of the refinance is deductible, where credit card debt is not. The disadvantages are that the cash comes directly from your equity, and if your financed amount exceeds 80% loan to value you may pay PMI.

Even though the majority of lenders place strict limits on the amount of cash you may take out of your property during a refinance, we have programs available which allow for unlimited cash out. Unlimited cash out refinance loans are a great way to pull generally tax free cash out of your home.


If you have any questions regarding our products, you can contact us by calling or e-mailing us and we'll get back to you as soon as possible. Thanks!



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