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Are You Considering Cash-Out Refinancing?
There’s a smarter alternative to access your home equity
63% of Homeowners Don't Realize What Cash-Out Refinancing Really Costs
Like most homeowners looking to access their property's equity, you might also think cash-out refinancing is your best option, right? But here’s where it gets costly and you don’t realize that you end up signing up for:
Higher Interest Rate
You'll pay around 7% more APR, which is notably way more than your current mortgage rate.
Higher Tax Liabilities
Cashing out 14%+ of your home's value could lead to surprise tax liabilities.
Recurring Mortgage Payments
Higher monthly payments could cost you thousands more per year.
Risk of Foreclosure
A 15% larger mortgage makes your home more vulnerable if your finances take a hit.
Cash Out Refinancing Vs Equity in Cash
Get the cash you need without the debt, high interest rates, or financial risks- see how our solution compares in order to make better decisions.
| Aspects | Cash-Out Refinancing | Equity in Cash |
|---|---|---|
| Monthly Payments | Higher mortgage payments ( 14% +) | No additional payments (0% increase) |
| Interest Rate | 7%+ average on the entire mortgage | No interest rate |
| Closing Costs and Fees | Lenders charge 2-6% of the loan amount | $0 in closing costs |
| Risk of Foreclosure | 100% of home equity at risk if payments are missed | 0% risk of foreclosure |
| Approval Process | Requires lender approvals, credit checks (30-45 days) | Fast approval, cash in days |
How you can make more money with The District PHX
Lock & Move
Our Lock and Move program lets you lock in your equity and it requires no appraisals, no need to make repairs, and no commission to be paid. In just a few days, we pay off your mortgage and the rest of the purchase price is yours!
- Quick Cash Offer (And the fair one)
- Flexible Closing Dates
- No Hidden Fees (No last minute surprises)
Unlock & Stay
Our Unlock and Stay program, also known as a home sale leaseback, lets you unlock your home equity to use as you choose while staying in your home for up to five years while you start the next chapter in your life!
- Continue living in your home as a tenant
- Customizable leaseback options
- No property tax or maintenance
Get Your
No-Obligation,
All-Cash Offer.
Get a fair cash-in-hand offer for your home in less than 24 hours.
Frequently Asked Questions
The amount depends on your home’s value and the amount of equity you have. We provide a fair and competitive cash offer, typically within 24 hours.
No, this is not a loan. Unlike refinancing, which comes with high interest rates, our program allows you to access your equity without taking on debt or paying interest.
A cash-out refinance replaces your mortgage with a larger one, while a home equity loan is a second loan on top of your existing mortgage.
Refinance when interest rates drop, you need lower payments, or want to access home equity—but watch out for closing costs and higher debt.
A HELOC can offer flexibility but adds debt, interest, and the risk of losing your home if unpaid.