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What Is A Cash-Out Loan?

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A cash out loan, also known as a cash-out refinance in Southern California, is the refinancing of your existing mortgage, to obtain a new loan. If you choose to refinance your loan for more than you owe, you may keep the difference in cash, to use to pay off other higher interest debts, make home renovations, or put towards other purchases. Huntington Beach based Summit Lending is available to help you to refinance into a cash-out loan, when you are ready.