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Cash Out up to 95% of Your Home’s Value

We help you to unlock your home equity to receive the maximum amount of cash to achieve your financial goals.

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Don't Work With the Wrong Lender

 

Are you trying to access the equity in your home, but lenders are saying you can only get a loan up to 80% of the home’s value? If you have equity in your home, but lenders are restricting the amount of cash out you can receive, it’s easy to get frustrated and discouraged.

If you don't receive enough cash out, you might not be able to:

❌ Fully complete your renovation
❌ Consolidate all of your debt
❌ Pay for your child's education
❌ Cover emergency expenses
❌ Have enough down payment to purchase an investment property

You need a mortgage company that will allow you to convert the highest amount of your home equity into cash. At LoanBud, we have helped countless people just like you leverage their home equity to improve their financial position.
 

Why LoanBud?

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UNLIMITED CASH OUT

Some big banks will limit the amount of cash out to $250k or $500k. We do not limit how much cash you can receive up to the program LTV requirements.

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UP TO 95% FINANCING

Unlock your home equity with up to 95% total financing with a cash out refinance plus a post-closing equity line.

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MORE WAYS TO QUALIFY

We have several programs that do not require tax returns so you can get approved and close on your cash out refinance loan.

What Our Clients Have to Say:

"Being a business owner, I was concerned that I would not qualify for a mortgage because of my tax returns. William Bennet and his team were incredibly fast and got us closed 21 days from the day we spoke. If I knew a business owner like myself in need of a mortgage, I would highly recommend your company!"

Brandy and Brian Drey

Self-Employed Borrower

"I was concerned that I would not find any reasonable options catering to my self-employed situation. I was able to get approved and close on my home because Doug Adler thoroughly guided me through all options and found one that best suited my needs.  I would absolutely recommend Doug Adler and his team!"

Brian Ansara

Self-Employed Borrower

"I was newly self-employed with little income to show. I couldn’t qualify with W-2s. Sophia Curiale was able to help me secure a mortgage  without any income documents. I would recommend Sophia and her team’s services to anyone! " 

Peter Gitlin

Self-Employed Borrower

"I was concerned about getting a mortgage commitment letter in time, and I heard 60 days from bankers and my neighbors. After quickly getting my commitment letter and finding the right product that fit me and my source of income, William Bennett left me with no doubt that he was going to get it done. It was a synergistic recipe for success for us, and we’d recommend him and his team to anyone without a shadow of a doubt!"

Charles

Self-Employed Borrower

Getting a Loan with LoanBud
Is as Easy as 1, 2, 3 ...

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Schedule a Consultation

Speak with one of our experienced loan officers who will understand your goals and help create a plan.

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Know Your Options

Discover what options are available to you and have confidence knowing your income has been reviewed up front.

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Close Your Loan

Relax as we guide you through a stress-free loan process so you can close on time.

FAQ's

What is a cash-out refinance?

A cash out refinance is a home loan that replaces your existing mortgage with a loan that is larger than what you currently owe on your home. The difference will be paid directly to you in cash which you can use for home improvements, debt consolidation, investments, or other purposes. The rates and terms on your new mortgage will be re-negotiated during closing.

Is cash-out refinance taxable?

No. The cash that you take out during a cash-out refinance is not considered as income, so you will not need to pay taxes on it.

What are the benefits of a cash-out refinance?

Here are a few of the potential benefits:

  • Get lower interest rate than your current mortgage
  • You can use the cash however you want
  • No maximum amount of cash out
  • Interest may be tax deductible
  • It could eliminate high-interest debt
  • You could increase your home’s value with home improvement
  • Can save you thousands of dollars in interest over time
Who is a good candidate for a cash-out refinance?

A cash-out refinance can offer a lot of financial benefits. Here are some of the most common scenarios in which a cash-out refinance is a good option:

 

  • Pay For College: A low interest 15-30 year mortgage can be a good option for someone who needs to pay for higher education, especially when compared to high interest student loans with shorter terms. There are a few factors to consider so be sure to consult with a loan officer first.
  • Home improvements or renovations: If you’re looking to make some upgrades to your property, a cash-out refinance can be used to cover those costs.
  • Secure a lower interest rate: If you have any monthly bills that carry a high interest rate, that may cost you thousands of dollars of interest over time. The interest rate on your cash-out refinance will generally be lower than the rate on high-interest debt like credit cards. You can use your home equity to pay off your debt and save money on interest over time.
  • Debt consolidation: Making multiple payments each month can be challenging. You can use a cash-out refinance to pay off student loans, auto loans, or other debts and streamline your payments into one convenient sum, and save money on your monthly payments.
  • Investments and savings: Freeing up cash to put toward retirement or other savings accounts can be a smart financial move, especially if you are transferring money to an account with compounding interest.
Is there a limit to how much you can cash-out?

Most banks will restrict you to 80% of the value of the home, we go to 85%. 

We provide a post-closing HELOC for another 10%, which brings total up to 95% 

Some banks will limit you to 250k-500k, especially on jumbo loans. We don’t have a limit, including on Jumbo loans.

Can I get a no doc refinance?

Yes, at LoanBud we offer no doc refinances using only bank statements and allow you to take cash out up to 85% of the value of the property.

Can I see an example of a cash-out refinance?

Let’s say that you need $60,000 to do a large renovation on your home that you purchased for $500,000. Let’s also say that: You put $50,000 down initially. You have paid off an additional $50,000 by making monthly payments. Currently, you owe $400,000 on your home, which means that you have 20% equity. In order to secure the $60,000 that you need for your renovations, you can do a cash-out refinance and take out a $460,000 loan. The initial $400,000 will go toward paying off your first mortgage and the remaining $60,000 will go straight to your pocket. Now, your monthly payments will go toward paying down the principal balance and interest on the $460,000 that you borrowed.



What is the maximum cash out on a jumbo refinance?

We believe the equity in your home belongs to you, and that limiting the amount of cash back one can receive from a refinance is just wrong.  Unlike other lenders, at LoanBud we do not limit the total amount of cash back you can receive.

Unlock More of Your Home Equity

 
At LoanBud, we know you are the kind of people who want to be successful and plan for your future. In order to be that way, you need to convert the equity in your home into cash. The problem is, most banks will limit the amount of cash you can receive, which makes you feel frustrated and defeated. We believe denying people access to the equity in their home is just wrong. We understand how frustrating it can be for those with home equity to struggle to be able to access it. That’s why we allow our customers up to 95% total financing of their home's appraised value.
 
Here’s how it works:
1) Talk to us 
2) Know your options
3) Close your loan
 
So request a free consultation today so you can stop worrying about how to access your home equity and you can start achieving your financial goals.
 
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SELF-EMPLOYED LOANS

Qualify using banks statements or 1099s instead of your tax returns so you can get approved and close on your home..

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5% DOWN JUMBO LOANS

LoanBud Jumbo loans require as little as 5% down up to $2 million and as little as 10% down up to $5 million.

Want To Discover More Loan Programs?

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Contact Us

(484) LOAN-BUD
777 Brickell Ave Suite 500
Miami FL, 33131

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LoanBud is a Division of BayFirst National Bank, N.A., Member FDIC, Equal Housing Lender NMLS ID 806183 Copyright © 2022. All rights reserved.
*Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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