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A cash-out refinance replaces your existing mortgage with a new home loan for more than you owe on your house. The difference goes to you in cash and you can spend it on home improvements, debt consolidation or other financial needs. You must have equity built up in your house to use a cash-out refinance.
To learn more about Diamond Residential's cash-out refinancing options, contact your local DRMC Mortgage Loan Advisor and see if this solution is right for you.