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

Savings Corner

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. While you can’t cash out all of your home’s equity, the process gives you access to a larger sum of money without needing to sell your home.

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How to Calculate Home Equity

Savings Corner

Home equity can be a valuable resource for homeowners. You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. Here’s how to calculate the equity in your home. You can find out how much your home is worth using a number of methods.