What's the Best way to cash out refinance your home? ( Not what you think)

How I Helped a Self-Employed Client Cash Out Refinance and Tap into their Home Equity Without Touching Her Low-Rate 1st Mortgage 💡.

Recently, I helped a client unlock her home equity for a new business venture—without sacrificing her ultra-low mortgage rate. Here’s how we got it done, even with some real challenges: ( I eat those for breakfast).

The Situation 🏡💰

• FICO Score: 660

• First Mortgage Rate: Under 3%

• Goal: Pull cash out for a business opportunity

The Challenges 🚧

• Self-Employed: Tax returns didn’t show enough income

• Bank Statements: Included NSFs and non-qualifying deposits

• Big Concern: Didn’t want to lose her low-rate first mortgage

The Solution 🛠️

1. Creative Income Qualification:

2. Traditional income docs weren’t an option. She worked with her CPA to get a Profit & Loss statement prepared—this let us document her real income and qualify her for the cash-out refinance.

3. Protecting Her Low-Rate Mortgage:

4. Instead of refinancing her whole mortgage (and losing that sweet sub-3% rate), we did a closed-end second mortgage.

   • What’s that?

     
     

     Like a HELOC, but you get a lump sum at a fixed rate.

   • Why it worked:

     
     

     She kept her original low-rate mortgage and still got the cash she needed.

The Result 🚀

We pulled out the equity, protected her low-rate mortgage, and now she’s acquiring her own business. That’s the power of creative loan structuring—solving problems most lenders walk away from.

Thinking About Using Your Home Equity? Let’s Talk! 👋

If you’re self-employed, have unique income, or just want a real solution—let’s connect. I specialize in creative deals and getting results where others can’t.

📞 Call/Text: 786-657-6458

📧 Email: Kerby@juliesrealty.net