More Money, Fewer Problems with a Cash-Out Refinance with Colonial

Is it time you finally remodeled your outdated kitchen or updated your master bathroom? Have you gotten a little behind on your credit card bills or do you have a child attending college in the fall? If you own your home and are looking to gain access to cash, you may consider a cash-out refinance with Colonial. With interest rates still near historic lows and home values continuing to increase, refinancing your home may allow you to gain access to the cash you need. Most importantly, the money is yours to do as you wish. You may also be able to save money on your monthly mortgage payment, reduce your term or get rid of monthly private mortgage insurance when you refinance your mortgage. Below we have put together a few of the ways Colonial customers are using the money they receive from a cash-out refinance.

Pay Off Debt

It happens to even the most budget-minded of us. Unexpected costs can cause you to lean too heavily on your credit cards at times. With a cash-out refinance you can pay off high-interest credit cards, potentially saving you hundreds or even thousands of dollars in interest.

Make Home Improvements

Another popular way to use a cash-out refinance is to use the money to pay for home improvements. Use the money from your refinance to pay for new flooring throughout your home, remodel your tired kitchen to your dream kitchen, install a pool or outdoor living space to entertain guests – the funds are yours to use how you see fit. You may also be adding some serious value to your home, potentially adding thousands of dollars in value to your property.

Pay for College Expenses

It’s no secret that college expenses are continuing to rise. According to, the average cost for attending a public university as an in-state student is now $25,890 per year. This includes cost of tuition, room and board, books and supplies, transportation and other expenses. With a cash-out refinance you can use some of the money to pay for college expenses like tuition, technology and more.

Contact Me Today to Learn More

If you are looking to pay off debt, make home improvements, pay for college expenses or are just curious if you can gain access in your home’s equity, contact me today to fill out an application. We will be able to determine if you are eligible for a cash-out refinance and may also be able to save you money on your monthly payment, reduce your term or get rid of monthly private mortgage insurance when you refinance your loan with me and Colonial. Visit today to learn more about Colonial’s full suite of home loan products.

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