If you need some extra cash and your house is worth more than you need to pay on an existing mortgage, then you can have a cash-out refinance. You will replace your existing loan with the one that has more favorable terms and receive the difference in cash.
If you want to pay off your loan faster the excellent option for you would be refinancing to a shorter loan term. You might have to pay more each month, but in the long run, you will save a lot of money in interest payments because shorter loans generally offer a lower interest rate. Other possibilities are making a big payment at once or paying extra with each of your payments. Either way, we can help!