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 If you have equity built up in your home, and you need cash, you have two choices: get a home equity loan or utilize cash-out refinancing. Each has its pros and cons, so be sure to evaluate your situation carefully prior to making a decision.
 See also:
 Virginia Mortgage Bankers, LLC, Inc »
Provides residential mortgage financing for homeowners and prospective homeowners.
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 Lake Gaston Mortgage Services, L.L.C. »
Specializing in Resort properties, 2nd Homes, and Investment Lending on Lake Gaston and surrounding areas.
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 First Capital Funding, L.L.C. »
Providing complete mortgage services and answers to your mortgage questions.
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 Jenny Cannon's - Columbia National Inc. »
Columbia National Inc. - Offering mortgage services for Virginia.
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 First National Bank of Altavista »
Provides residential mortgage financing for Lynchburg and Altavista, Virginia.
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 Southern Trust Mortgage »
Provides residential mortgages for Virginia, Maryland, Washington, DC and North Carolina.
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 Benchmark Mortgage Inc »
Provides residential mortgages in Virginia as well as MD, NC, CO, TX and WV.
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 Mortgage Capital Investors, Inc. »
Mortgage lender specializing in a vast array of residential mortgage programs.
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 First Meridian Mortgage »
Provides residential mortgages for Virginia Maryland, DC and North Carolina.
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 Crown Mortgage Services, LLC »
Source for residential, commercial, and equity loans. Includes articles, staff profiles, client testimonials. Based in Charlottesville.
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 Virginia Housing Development Authority »
Provides financing and assists Virginians with acquiring affordable housing.
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 All Virginia Mortgage »
Provides residential mortgages for Midlothian, Richmond and all of Virginia.
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 1st Nations Mortgage Corporation »
A full service mortgage company providing mortgage services for all of Virginia.
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 Madison Mortgages »
Providing mortgage services for Rockingham and Augusta Counties.
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 Success Mortgage »
Full-service mortgage broker in Virginia and West Virginia.
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 Home Town Mortgage Group »
Mortgage company offers home financing programs in Tennessee, Virginia and Kentucky.
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 If you are planning to stay in your home for several years, then you can save money by paying points for lower interest rates. You pay up front fees to ensure you have lower interest payments over the course of your loan. Remember, this only works if you keep your mortgage for several months.
When refinancing a mortgage, as many as 30% of homeowner's cash out part or all of their home's equity. By investing in home improvements or paying off credit cards, this can be a smart. But, if you are borrowing more than 80% of your home's value, you will be hit with private mortgage insurance, costing you hundreds a year.
Be Ready. After your loan is approved, you'll need to sign your loan documents and provide a check for any out-of-pocket closing costs. Make sure the funds are available in your account, and be ready to make room in your schedule to read and sign your loan documents as soon as possible.
You can ask for a copy of your settlement cost papers (the HUD-1 form) one day in advance of your loan closing. This will give you a chance to review the documents and verify the terms.
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