Year-over-year Increase in Cash-out Refinances Signals Opportunity
Homeowners used cash-out refinances to take advantage of record levels of home equity according to Black Knight’s December 2021 Originations Market Monitor report. Home prices nationwide and new cash-out refinances were both up an impressive 18% year over year.
For borrowers that have enough equity in their home, a cash-out refinance can help lower their mortgage payment, provide funds for home improvement or other goals, and pay off other high-interest debt. Cash out refinancing is also popular with military veterans, especially as the Department of Veteran’s Affairs has this year reinstated its pre-pandemic 100% loan to value cash out guideline.
Properly merchandising your refinancing offers represents a significant opportunity to grow your business, and Leadfusion can help. We offer both top and mid-funnel pre-sales solutions that help consumers determine if a cash-out refinance is right for them and move them forward into an application process.