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Mexican Financing: House as Down Payment, Cash Out Refinance
A cash out refinance is defined as anytime you refinance your home and take out more than 1% of the balance after all costs and pre-paid amounts have been accounted. One of the best uses of a cash out refinance is to pay off higher rate loans by consolidating debt. Cash out refinances have other great uses such as funding your remodeling project or addition, college and, our favorite, allowing you to not tie up your invested assets in the down payment on a second home or investment property. If you are thinking of purchasing a second home or investment property in the US or a second home in Mexico, we encourage you to call Marquest today. We would be happy to thoroughly explain your financing options by giving you BOTH the positive and negative aspects of utilizing your property as collateral for the down payment.
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