College Tuition Converse May Refinancing 
Savings Corner
APRIL 4, 2024
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.
Savings Corner
APRIL 4, 2024
Both act as second mortgages, using your home as collateral, and may offer tax deductions if the funds are used for substantial repairs or upgrades. Some HELOCs come with a conversion option that allows you to set a fixed rate on some or all of your balance. You don’t have to use (and repay) all of the funds you’ve been approved for.
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