Savings Corner

DECEMBER 23, 2023

You could borrow cash value for things like college tuition or retirement income, for example. This process may involve a medical exam and underwriting , depending on the policy and your health history. Be sure to research and compare policies from different providers to find the best fit for your needs and budget.

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Savings Corner

APRIL 4, 2024

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. You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. How does a cash-out refinance work?

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Savings Corner

APRIL 4, 2024

Some HELOCs come with a conversion option that allows you to set a fixed rate on some or all of your balance. Home equity lenders often charge a fee for variable-to-fixed-rate conversions, too. If you decide to formally apply, you can typically start the process online and upload the requested documentation to get a lending decision.

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