Refinance and Cash Out Loan FAQs
What states does RCS offer Refinance and Cash Out loans in?
We currently offer Refinance and Cash Out Loans in AL, AK, AR, CO, CT, DC, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MS, MO, MT, NH, NM, NC, OH, OK, PA, RI, SC, TN, TX, VA, WA, WV, WI and WY
Are you going to offer Refinance and Cash Out loans for other property types?
In addition to 2-4plex, Condos and single-family properties, we are rapidly growing and plan to add additional property types soon.
What is a 5/1 ARM, 7/1 ARM, and 30-year fixed?
A 5/1 ARM, and 7/1 ARM are 30-year adjustable-rate mortgage products. Your rate will be fixed for the first five (5), or seven (7) years, then will change once (1) per year for the remainder of the mortgage. The change in interest rate is tied to a published index reflecting market conditions. We offer a fully amortized option for this product.
A 30-year fixed mortgage has the same interest rate for the entire duration of the loan.