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.

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Savings Corner

APRIL 4, 2024

What is mortgage refinancing? Mortgage refinancing is when you replace your current home loan with a new one. Just like any other loan, you apply for refinancing, which includes a thorough check of your credit, income, employment history and finances. Ideally, you’ll also get a lower rate in the process.

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Savings Corner

DECEMBER 27, 2023

What this mortgage refinance calculator does If you’re thinking of refinancing your mortgage, it’s probably because you want to save money. There are two ways to save money by refinancing: Reducing the monthly payment. It calculates how much you would save (or not), year by year, by refinancing.

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Savings Corner

DECEMBER 25, 2023

Different lenders may refer to the 3-year ARM by different names. It used to be called the 3/1 ARM because it was adjusted annually before regulatory changes were made. 3-year ARM rates NerdWallet’s mortgage comparison tool can help you find competitive 3-year ARM rates today, whether you are buying a home or refinancing.

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Savings Corner

DECEMBER 27, 2023

Withdrawing from a checking account is most straightforward because there are no tax implications, as there may be with a brokerage account or withdrawal limits that a high-yield savings account would have. For some people, it’s just easier to see large payments come out of an account they don’t also use to buy groceries.

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Savings Corner

DECEMBER 27, 2023

Use grad PLUS loans if you’ve maxed out your federal direct unsubsidized loans and still want to use federal loans to pay for graduate school. Ascent Graduate Student Loan While federal interest rates are historically low for the 2020-21 academic year, you still may get a better rate with a private graduate student loan.

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Savings Corner

DECEMBER 24, 2023

That may involve going back to the basics of budgeting so that you’re living below your means or refinancing your debt so that you can work toward paying off your debt. This kind of plan may involve investment management, tax planning and estate planning as well as any other kind of need that may arise over time.

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