Lower interest rates: If market conditions are favorable, you might secure a new mortgage with a lower interest rate than your existing one. This could lead to significant savings over the life of the loan Debt consolidation: Cash-out refinancing can be a strategic tool for consolidating high-i...
By comparison, the 7a program is just one loan and it can also be used for real estate. There are advantages and disadvantages with it, but in some cases you can get 100% financing (or higher) and it is also sometimes available as a 25 year fixed rate. ...