Cash Out Home Loans
1) home prices are down 30-50% in most areas
2) with the massive equity build-ups in the previous years
It was so easy for homeowners to take cash-out to:
1) payoff debts
2) buy other properties
3) upgrade their homes
4) fund college educations
5) fund company growth
5) make major purchase using the lower mortgage rates and payment
These loans were often via home equity lines of credit (HELOC) or second liens. These HELOC's are very difficult to get these days as banks consider them to be very risky. Many of the major banks don't even offer them any more and some lenders do not even allow loans with any more than $2,000 net cash out.
Despite all of the above, if you are in a great equity position and are looking for cash out from your home's equity, let's check out the numbers and see if there is a program to meet your needs. It is usually still the cheapest way to finance any of the above and other needs.
When looking at your real estate portfolio, if you are looking to refinance one of your loans, but there is just not enough equity, there may be an option to take money out of another property to bring down the balance so that you will qualify. I have done this for many clients with great results.
For all of your cash-out loans, Calabasas Jumbo Home Loans, Westlake Village Jumbo Home Loans, Agoura Hills Jumbo Home Loans, Lake Sherwood Jumbo Home Loans or California Jumbo Home Loans anywhere in California, please give me a call.
“My wife & I cannot recommend Bill Emhoff adequately enough except say his work with our home loan process was "superlative" from start to finish!!!! He was tireless in pursuing & obtaining the best rate and locking it in at just the right time. He is the one to go to for counsel on the current mortgage market.”
- John O’Brien
"My wife and I worked with Bill Emhoff on two transactions last year. Even as a writer, it would be difficult for me to say in words how happy we were to have worked with Bill. He was: patient; professional; great at explaining all of our options and delivered on absolutely everything he promised to deliver. In both cases, we were ecstatic with the new loans we obtained. I would highly recommend Bill to anyone looking to buy, sell or refinance."
- David Polsky
“As a 10 year Real Estate Professional, I have dealt with many lenders. There are only a couple lenders I use on a regular basis. Bill Emhoff is one of them. He is a seasoned professional, an excellent resource, and I would highly recommend him to anyone in need of his services”.
- Leo McHale, Rodeo Realty, Westlake Village
"The rate was so good that about twenty loan brokers who had called me after I had locked the rate all implied in one way or another that I would never get the pricing I was quoted. However Bill did an excellent job of guiding me through the process and funding the quoted loan. I heartily recommend Bill's professionalism.”
- Alan German
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