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Cash-Out Refinancing: How It Works, When To Do It

Savings Corner

Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Cash-out refinancing allows you to turn equity into cash through refinancing your mortgage. The terms of your refinanced mortgage might significantly differ from your original loan, including a new rate or longer or shorter loan term.

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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

Source: ICE Mortgage Technology February 2024 “Mortgage Monitor” report Pros and cons of a home equity loan Advantages You’ll have a fixed interest rate and predictable monthly payment. Loans often don’t charge origination fees , which’ll save you money at closing. appeared first on Savings Corner.

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