Can You Refinance To Fund a Summer Vacation?

Are you still wanting to get in an EPIC family vacation before summer is over? Family is everything and those heartwarming memories can last forever. That being said, summer family vacations can be really expensive and sometimes it can be really hard to afford everything. So, what do you do? Believe it or not, some people have actually used the money from refinancing their homes to pay for their family vacations. Our mortgage company at the Lake of the Ozarks is here to give you some information on refinancing your home to fund a summer vacation in this week's blog. If you have any questions on this process, please call us at MHQ - Mortgage Headquarters today. We can be reached at (573) 302-9990.


Can You Refinance To Fund a Summer Vacation?


There are many reasons to refinance your home loan, some examples include:

  • To pay for your child's college tuition.
  • To remodel your home and pay for the improvements.
  • To consolidate your debt.
  • To shorten your term.
  • To reduce your monthly payments.
....As we stated earlier, so people may choose to refinance their home loan to cash out and pay for a family vacation. Is "cashing out" your main purpose for your refinance? It could be you're planning a special vacation. 


How The Cash Out Process Works


If this is the case and you have chosen to refinance your home to fund a summer vacation, you will want to get a loan higher than the balance remaining of your current mortgage. This means you'll want to get a loan for more than the remaining balance of your existing mortgage loan. You may not increase your mortgage payment, however, if you have had your current loan for a number of years, and/or your loan interest rate is high.


Is This A Good Idea For Everyone?


No, refinancing your home loan to fund a summer vacation or remodel your home or for whatever reason you may have for wanting to do so, is not necessarily a good idea for everyone. How do you know if this is a good idea for you and your family? Make an appointment with an experienced mortgage lender at the Lake of the Ozarks and explain your situation. Get your questions answered and get a better understanding of the process you would be entering into. That is where we come in.



Call MHQ - Mortgage Headquarters today. We can be reached at the phone number listed below. You can also follow us on our social media channels listed below to stay up to date on our latest announcements. If you are going on a family vacation this summer, we hope you have a great time! Travel safely!



Mortgage Headquarters of Missouri, Inc
4824 Osage Beach Parkway, Suite 1
Osage Beach, MO 65065

Office: (573) 302-9990
Toll Free: (888)799-1206
Fax: (636)648-9917


NMLS # 1229111




Follow Us On:   Facebook   |   Twitter   |   LinkedIn
Location: Osage Beach, MO 65065, USA

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