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

Savings Corner

You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. Cash-out refinance example Let’s say you still owe $100,000 on your home, and it’s currently worth $400,000. That means you have $300,000 in equity.

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What Is A Personal Loan?

Savings Corner

Monthly payment: Personal loans come with a fixed monthly payment that you’ll make over the life of the loan, calculated by adding up the principal and the interest. You might, for example, be offered financing by a home improvement store when you buy an appliance.

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