Jason Ruedy recommends homeowners opt for the 90% loan-to-value cash-out refinance instead of a second mortgage or HELOC

Jason Ruedy Urges Homeowners to Consider New 90% Loan to Value Cash-Out Refinance Option Before Taking Out a Second Mortgage or HELOC

DENVER, CO, UNITED STATES, December 31, 2024 /EINPresswire.com/ -- Jason Ruedy, President, CEO of The Home Loan Arranger says homeowners who are wanting to tap into their homes equity by getting a closed end 2nd mortgage or HELOC may have a new and more beneficial option available to them. Jason Ruedy, a leading mortgage expert, is urging homeowners to consider the new 90% loan to value cash-out refinance option before taking out a second mortgage or home equity line of credit (HELOC).

The 90% loan to value cash-out refinance loan allows homeowners to refinance their existing mortgage for up to 90% of their home's value, while also taking out cash to consolidate debt into a lower monthly payment. This option could potentially offer a lower blended interest rate than carrying a first mortgage and a second mortgage or HELOC.

Ruedy notes that many homeowners might not be aware of a new refinancing option that could lead to substantial long-term savings. By refinancing their current mortgage and opting for a 90% loan to value cash-out, they may achieve a lower blended interest rate. In contrast, closed-end second mortgages or HELOCs typically come with higher interest rates. When combining the interest rates of the first and second mortgages, homeowners arrive at a blended rate, which may be higher than the interest rate associated with a 90% cash-out refinance. Additionally, this cash-out refinance option does not necessitate private mortgage insurance (PMI).

Homeowners should thoughtfully evaluate their choices before incurring more debt. A 90% cash-out refinance loan serves as a first mortgage cash-out option. Anticipating lower mortgage rates in 2025, homeowners have the opportunity to refinance now, consolidate their debt, and potentially secure a lower interest rate in the future, which could further reduce their payments.

Ruedy encourages homeowners to speak with a trusted mortgage professional to explore their options and determine if the 90% loan to value cash-out refinance is the right choice for them. With interest rates at historic lows, now is the time for homeowners to take advantage of this new option and potentially save money in the long run.

For more information on the 90% loan to value cash-out refinance option, please contact Jason Ruedy at -jason@thehomeloanarrnager.com

For more information on Jason Ruedy visit - www.aboutjasonruedy.com

JASON RUEDY
THE HOME LOAN ARRANGER
+1 303-862-4742
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram
YouTube
Other