Tappable Equity Hits $4.7 Trillion for American Homeowners
Kacey M. Isley | April 5, 2017
As the price tag on American homes increase, so does the available equity that homeowners can tap into for cash-out refinancing.
Black Knight’s Financial’s February Mortgage Monitor reveals 39.5 million American homeowners have equity they can release from their home.
Ben Graboske, Black Knight’s Data & Analytics Executive Vice President, claims “December 2016 marked 56 consecutive months of annual home price appreciation.” He explains that this appreciation “served to not only lift an additional one million formerly underwater homeowners back into positive equity throughout the year, but also increased the amount of tappable equity available to U.S. mortgage holder by an additional $568 billion.”
For the full report, click here
What does this mean for new & current USAVA Clients?
A large percentage of homeowners with VA and non-VA home loans have untapped equity. Many are eligible for a VA Cash-Out Refinance Loan where we, at USAVA, allow up to 100% of the value of the home for cash-out refinance for any use. www.usava.com
VA Cash-Out Refinance
The U.S. Department of Veterans Affairs explains:
“VA’s Cash-Out Refinance Loan is for homeowners who want to take cash
out of your home equity to take care of concerns like paying off debt, funding
school, or making home improvements. The Cash-Out Refinance Loan can
also be used to refinance a non-VA loan into a VA loan.”
Why a USAVA Cash-Out Refinance may be right for you…
> Lower Rate
You may be able to obtain lower rates because the loan is secured by your
home, unlike personal or credit card loans.
> Access to Cash
Because of the equity you’ve built in while owning your home, you can access
its value with a cash-out.
> Tax Deductible
After speaking with your tax advisor, you may find there are tax benefits
associated with a VA cash-out refinance.
Contact one of our government loan advisors today about your VA benefits.
You can reach us 24/7 at 888-842-0490 for more information. Or please visit our site at www.usava.com
