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August 28, 2014

Glossary Term of the Day cash-out refinance

Cash-out Refinance

A refinance transaction in which the new loan amount exceeds the total of the principal balance of the existing first mortgage and any secondary mortgages or liens, together with closing costs and points for the new loan. This excess is usually given to the borrower in cash and can often be used for debt consolidation, home improvement, or any other purpose. The borrower effectively borrows against the home's equity.

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Rob Kline

Loan Officer

NMLS #17249

Toll Free: 800-334-4648

Office: 978-705-3201

Cell: 617-633-5657

Fax: 978-705-3288


Mortgage Network, Inc.

300 Rosewood Drive

Danvers,  MA  01923

Click Here to Start the Loan Process Now!

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Thank you for visiting my personal website. You can access mortgage information day or night. Please search through to see if the information here can answer your questions. If not, or when you are ready to take the next step, I welcome you to call me directly to provide you with personal assistance with your home financing needs.

Mortgage Network, Inc. offers a variety of traditional and sophisticated mortgage programs that provide the best financing options available in today’s competitive market. We take the time to consult with you and provide personalized information to fit your individual needs.

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