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Thinking about lowering your monthly payments or possibly reducing
the length of your mortgage? Perhaps you plan on being in your home
for less than 7 years and may want to take advantage of a lower interest
rate adjustable rate mortgage. Maybe you want to convert your current
adjustable rate mortgage into a fixed rate. Whatever your situation may be,
Dominion Home Mortgage can help.
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Cash-out Refinance
A Cash-out Refinance is a refinance on your current mortgage where you
borrow money against your home. If the home appraises out to $150,000
and you have an outstanding mortgage balance of $90,000, it is possible
for you to do a cash-out refinance of 80% of the $150,000. This gives
you ($30,000) cash for anything from home improvements, debt consolidation,
or even investments. Cashing out up to 80% of the value of your home allows
you to stay away from Private Mortgage Insurance. And the interest you pay
on your mortgage is tax-deductible.
**We have very competitive 2nd Mortgage rates and Home Equity
Lines of Credit. The lenders we work with allow for up to 100%
of the value of your home.
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I WOULD LIKE TO SPEAK TO SOMEONE ABOUT A REFINANCE
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