CLEVELAND, Jan. 24, 2023 /PRNewswire/ -- As inflation continues to hit household budgets nationwide, it's also creating more equity for homeowners. CrossCountry Mortgage (CCM) can help existing homeowners utilize this equity to achieve financial goals, support immediate and long-term plans, and eliminate interest rate stress through our home equity product portfolio.
"Home is where we find security and peace of mind in more ways than one," said Jenn Stracensky, CCM Chief Operating Officer. "A borrower's home equity can help pay off higher-interest debt, take care of emergency expenses, save for larger renovation projects, finance a child's college education, and increase funds in savings and retirement accounts."
Home equity options include:
- Closed End Second loans turn home equity into cash with a smaller fixed-rate second loan. This loan provides the benefits of a cash-out refinance without changing the rate on a consumer's first mortgage.
- Home Equity Line of Credit (HELOC) accesses a home's equity as a revolving line of credit and is a flexible way to borrow funds. HELOC loans differ from traditional home equity loans in that you can draw money from a HELOC as needed instead of taking out a single lump sum loan.
- Cash-Out Refinance allows borrowers to replace a current mortgage with a larger loan. In return, borrowers receive the cash difference between the amounts.
With thousands of loan officers, more than 600 branches and a presence in all 50 states, CCM is ready to support borrowers with education around the many available options. To locate a nearby CCM branch, visit www.ccm.com.
About CrossCountry Mortgage
CrossCountry Mortgage (CCM) is one of the nation's largest retail mortgage lenders, with more than 8,000 employees operating 600 branches across all 50 states. Our company has been recognized nine times on the Inc. 5000 list of America's fastest growing private businesses and has received many awards for our standout culture. We offer more than 100 mortgage, refinance and home equity solutions – ranging from conventional and jumbo mortgages to government-insured programs for Veterans and rural homebuyers – and we are a direct lender and approved seller and servicer by Freddie Mac, Fannie Mae and Ginnie Mae. Through our dedication to getting it done, we make every mortgage feel like a win. Visit ccm.com.
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SOURCE CrossCountry Mortgage