Should you cash out refinance?

[@MattTheMortgageGuy]

Looking to get a refinance quote in CA? kzbin.info/www/bejne/pqrNp4qfp8yShNk Looking to get a refinance quote outside of CA? www.greatmortgagebroker.com/

[@freddiemarmo-realtyconectgroup]

Great job, Matt! 👊🏻💪

[@zitawillingham4391]

You are right it depends on what you use the money for if you use it wisely or as you said took money out of their home for vacations jewelry or other ridiculous items some people use the equity in their homes like a piggy bank if used wisely you could use it to lower your debt another great video

[@MattTheMortgageGuy]

Thanks Zita! Appreciate your support!

[@bigpoppa2475]

Good job of explaining the possibilities as well as the pros and cons. Keep up the good work Matt.

[@MattTheMortgageGuy]

Thanks Big Poppa!

[@bigpoppa2475]

@@MattTheMortgageGuy Np. Martty Ice.

[@coolname2784]

My sister got a HELOC on her liar loan house she bought in 06 then proceeded to use it as her personal ATM. Vegas and Disneyland, one or the other every few months she went. Well, her job cut her pay and bonuses mid 07 and set the dominos into motion. She now lives in a 2 bedroom apartment with her husband, daughter, and grandson. Do not borrow money to party. Never go into debt just to have fun with the money.

[@lilfamily]

Ouch.. that's painful. Thanks for posting, always good to be reminded of some things not to do.

[@JonathonConnorOfficial]

thanks for the heads up on the Black Knight data! Im going to check out their reports. Keep up the great videos Matt!

[@MattTheMortgageGuy]

No problem!

[@selenerealtor2533]

Thanks for everything!

[@MattTheMortgageGuy]

Thanks for watching!

[@ludilevi3533]

Great video Matt, sharp, informative and straight to the paint. As usual another great video packed with value… I like your examples that are backed with data. We recently had talked about this 🙏😃

[@MattTheMortgageGuy]

Thanks Ludi!

[@gedenirfiorese3523]

3:18 watching that while about to take off to Vegas :/ I was going to support the local economy with those 20k lol

[@MattTheMortgageGuy]

😂

[@reconchris3855]

great info

[@CommercialRealEstateExplained]

Thanks for putting this together!

[@MattTheMortgageGuy]

thanks for watching!

[@shanagirl87]

Don't know much about the details on the cash-out refi. I'd like to know the difference between cash-out refi vs. HELOC. Have a video I can reference?

[@MattTheMortgageGuy]

As a matter of fact I do. Standby

[@MattTheMortgageGuy]

Cash out refi VS HELOC: kzbin.info/www/bejne/bnSxZKB-p65matE

[@mattgrant9525]

I bought my first home 2019 for around 86k with a usda loan the interest rate was and still is 5.5%, could I/should I do a cash out refinance. I think with the market i should have a little equity in the home ive done around 15k of work to the house & I've just started my own business and could use the extra cash. Thanks!!

[@MattTheMortgageGuy]

Sounds like a great plan in 2 ways. Decrease your rate by a ton AND pour capital into a business that can provide great returns

[@pablohernandez2518]

I’m trying to see what is my best option to refinance with cash out I need to remodel and buy a new ac how can I get a hold of you to talk it over

[@MattTheMortgageGuy]

www.greatmortgagebroker.com/

[@RosieThecarlady]

I just did a heloc , in a week I had the money in the bank and no closing cost. I’m an investor , I purchased an other property with the money , how ever I’m cash out refinance all my rentals because we don’t have helocs for investment properties. 🙂thank you for the valuable information

[@infinityGtd]

My mortgage house value worth 660k how do I owe 210 how do I get money to buy another property and what Happen to my house

[@joshmoncada1442]

Selling my information now? The following day i get a call… some girl offering me money for my house. Coincidence or nah?

[@MattTheMortgageGuy]

Possible that the credit bureaus sold your data. When you get a mortgage credit pull the credit bureaus sell data. I hate it but they do

[@Honeydipdani]

Great input! I have just over 90k left in current mortgage. Considering a cash out (Appraised for 325k) to invest in real estate. Having a hard time coming to grips the increased mortgage amount. Do you have a perspective that could tip me one way or the other?

[@carlostosado8965]

Looking to use my 129k in equity also on rental.

[@billyh921]

Hi Matt, here is my situation. I own a rental in NC. I became disabled after buying the home, I currently owe $53k and Zillow estimates the sales price around $178k I want to pay the house off by age 65 and I’m 52 now. My current interest rate is 6.5 on a 20 yr fixed and I’ve paid 5 years on that loan, my credit score is 705 as I have about $40k in credit debt. In NC I can barrow 75% of the homes value. My rental income is $775 a month. Can you give me advice as to what you would do given my goals and current debt etc. Thank you!

[@bongngo7897]

I think you should if you have a lot of equity because the interest rate is relatively low for cash out refinance for good reason.

[@MattTheMortgageGuy]

Many people wish they would have in 2021…

[@dulcedaoud2722]

We got an investment house for $260,000 we closed on May 2021 the house appraisal is around 580,00 to 600,000 we’re trying to cash out in November but we talked to our lender and he said we can start the process in September.. after cash out can we use the money right away for anything ( obviously wisely) we’re trying to buy our primary Home.. need guidance help!

[@MattTheMortgageGuy]

For sure. Cash out refinance money can be spent on whatever you'd like. Gotta love REAL ESTATE INVESTING!

[@dulcedaoud2722]

@@MattTheMortgageGuy Thank you for your prompt reply, really appreciate ♥️

[@richelgudino]

The Dave Ramsey reference 😂😂😂

[@MattTheMortgageGuy]

😂

[@Legendsonly32]

@@MattTheMortgageGuy you have a video on why we need a credit score? According to DR credit score is basically saying how much you love debt to have nice things

[@MattTheMortgageGuy]

@@Legendsonly32 better the score, better your rate. You want 3.99% or 5.5% ? Up to you

[@ShahMangal]

🔥