Cash-Out Refinancing: How It Works, When To Do It
Savings Corner
APRIL 4, 2024
While you can’t cash out all of your home’s equity, the process gives you access to a larger sum of money without needing to sell your home. Cash-out refinance example Let’s say you still owe $100,000 on your home, and it’s currently worth $400,000. For a multifamily home, for example, you can only borrow up to 75 percent.
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