Welcome to Sunlite Mortgage
An equity take-out refinance replaces your current mortgage with a new mortgage and funds paid out to you at closing. A Home Equity Loan stands alone from your current mortgage. Clients choose to take second mortgages when they are already in a strong position with their first mortgage but still have a need to access equity.
Equity is the value of your home, less any mortgages against it. You can typically utilize up to 80% of what your home is worth. If you are currently paying higher interest rate debts, it may be worth it to consider taking some equity out as part of your next mortgage loan refinance to pay these off.
Lenders are limited to loaning 80% of your home’s appraised value. There may be other factors to consider when deciding on how much to borrow, so consult with a Sunlite Mortgage Professional today to make sure you are in the best spot you can be.
With any refinance there are typically some costs accrued in the process of closing your loan, between lender costs and third-party service providers, like appraisers and attorneys. When considering and equity take-out refinance, most clients choose to include any costs with their new mortgage balance, rather than paying for them separately.
STAY TOP OF MIND with a customizable, professional, monthly newsletter that you can distribute to your clients through our all-in-one marketing platform that helps you manage and talk to your clients, customers, and other interested parties. Drive more leads, referrals and renewals.
Check CareersOur goal at Borrow Loan Company is to provide access to personal loans and education loan, car loan, home loan at insight competitive interest rates lorem ipsums. We are the loan provider, you can use our loan product.
1 Concorde Gate, Suite 702, North York,Toronto Ontario M3C 3N6,Canada
(877) 385-6267
© Copyright 2020 | Sunlite Mortgage
Terms of use | Privacy Policy