Advantage College Tuition Examples 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
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. For example, peer-to-peer lender Prosper sets a 660 credit score minimum for HELOCS, vs. 640 for home equity loans. homeowners as of year-end 2023.
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