Bank On Your Home Equity

Bank On Your Home Equity

Cash-out re nancing can help put money in your pocket for bills, home improvements,

and other unexpected costs.

of us nd debt to be a primary

source of stress

If you owe less than your home's current value, you may be able to re nance your mortgage for extra cash. This money can be used to relieve stress, improve your home, or just about anything. Here are some reasons people cash in on their home equity.

Reasons to cash-out on your mortgage

Home Improvements

Remodeling is a great way to increase your home's value. 27% of people surveyed would use the savings from mortgage re nancing in this way.

Home Repairs

Small problems often turn into larger ones, especially when it comes to home repairs. Cashing out on your mortgage can help nance those costly repairs.

Pay O High-Interest Debt

High-interest debt such as credit card debt is hard to pay down. It's no suprise that 41% of people surveyed would use the savings from re for this purpose.

Lower Your Mortgage Interest Rate

Another bene t of re nancing is that you may be able to get a lower rate which will save money over the life of the loan, and could lower your monthly payments.

Add Cash To Your Savings Account

Using the savings from re nancing is an easy way to increase your savings without adding to your overall debt. In fact, 48% of people would do exactly that.

Invest In Your Retirement

Just like with a savings account, you can invest the savings from re nancing in your retirement account. It's a good way to give your nest egg an extra boost.

Help Pay For College Tuition

Cashing out on your mortgage is a great way to help pay for the college tuition of a loved one ? or even pay down your own student loan debt.

Mortgage With Laurel Road

Your home is an investment that can pay o . Our smart mortgages give you the power to extract the cash you need for things you want to do.

It's a great way to make your money work harder for you.

mortgage



1. Less Active Role in Financial Lives Leaves Women Making Less, Sacri cing More. Laurel Road. March, 2018. 2. Knowledge Gap Contributing To Housing Market And A ordability Concerns, Cautiousness. Laurel Road. June, 2018. The information provided is for educational purposes only and not legal or nancial advice. Laurel Road is a brand of KeyBank National Association o ering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not o ered in Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. NMLS # 399797. ?2019 KeyCorp? All Rights Reserved. Laurel Road is a federally registered service mark of KeyCorp. 855 Main St, 8th oor Bridgeport, CT, 06604, USA.

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