Advantage Examples Refinancing Renovation 
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
Many borrowers use them to pay for major home repairs or renovations, like finishing a basement , remodeling a kitchen or updating a bathroom. 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.
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