Reason for cash-out refinance letter

What is a good reason for cash-out refinance?

One of the most obvious way to use a cash-out refinance is to make repairs or improvements to your home. But since you can use the money however you want, you could also consider using a cash-out refinance to pay for other major expenses — like getting out of debt or paying for higher education.

What is a letter of explanation for cash-out refinance?

A letter of explanation for a cash-out refinance does what its name implies. It explains to the lender why you want to take some cash out while youre refinancing. There are many other types of letters of explanation that lenders might request.