Over the past years, many of Americans pulled money out their homes through “cash-out” refis. Today, many of my clients are bringing cash into their refinance transactions. Money is flowing in the opposite direction.
You might consider bringing cash to close your refinance to:
1. Lower your mortgage rate: If your LTV is close to the 80% Loan to Value (LTV) threshold, then bringing money to the table to push your LTV below 80% can get the borrower a better rate. Continue reading “Should you do a ‘cash-in’ refi?; St. Louis Mortgage Interest Rate Update“