Investing in yourself or your child’s education can help set up a life for success but not everyone has the funds to go to school. The average interest rate for student loans is about 6.05%. Whether you’re interested in going back to school this fall or supporting your children’s educational growth, a Cash-Out Refinance Loan may be your answer and could help you save on your high-interest rate student loans. With a cash-out refinance, you can take cash out from your home’s equity to pay for anything you need. Check out these 3 reasons to finance an education with a Cash-Out Refinance.
Top 3 Reasons To Finance An Education:
Sending your children to private school comes with many benefits. Private schools can help children become more academically challenged and provide additional opportunities for your child. However, it doesn’t come cheap. Private schools cost on average $12,350 a year. With a cash-out refinance, you can get the cash to take your child’s education to the next level.
Invest in your future by continuing your education. Going to college can be expensive, and you may need extra cash to pay for books, on-campus housing, and school tuition. Rather than getting a student loan, save thousands of dollars over time by borrowing against your home’s equity to pay for higher education.*
If you took out loans to pay for college, a cash-out refinance can get you the funds to lower your monthly debt payments and eliminate your student loans forever.*
If you’re looking for more ways to save this year, a refinance can help you to:
|Lower Your Interest Rate
Reduce your monthly mortgage payment for real savings that add up over time.*
|Pay Off Your Loan Sooner
Switch to shorter loan terms to save on interest.*
|Lower Your Monthly Payment
Refinance with longer terms, so more money stays in your wallet.*
Cash-out to reduce high-interest credit card debt.
|Pay For Larger Expenses
Take advantage of educational opportunities or invest in your home with updates that will yield a higher return should you decide to sell in the future.
We’ll work at your pace—we deliver loans at the speed of you!
*By refinancing, your total finance charge could be higher over the life of the loan.