Refinance to cash out your equity

1. MIDFLORIDA Credit Union Membership, eligibility, and credit approval required. Available for purchases or refinances loans of a primary residence with a maximum loan amount of $766,550 Cash out is defined as amount requested above existing first lien. If home is currently free and clear, cash out will equal loan amount. 5.875% is a 1-year promotional rate. 1. Payment example: Based on a minimum credit score of 720, a 30-year adjustable rate mortgage purchase loan for $300,000, with minimum 20% down at 5.875% interest rate has an Annual Percentage Rate (APR) of 7.191%. The monthly principal and interest payments are $1,774.61 during the first 12 months. The interest rate may adjust once every 12 months thereafter, based on the 1-year US Treasury Bill rate (4.290% as of November 1, 2024) plus a margin of 2.75%, with a maximum interest increase of 4% over the rate at closing. The monthly payment amount after the first adjustment based on current rates will be $2,015.74 and the highest possible monthly payment during the life of the loan could be $3,007. Payment example does not include amounts for taxes or insurance premiums; the actual payment will be greater. Promotional Rate and Margin may vary based on credit history and underwriting guidelines. Advertised terms are valid as of November 01, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details.