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. 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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Savings Corner

DECEMBER 25, 2023

If your home has increased in value since you bought it, you may have more equity than what you’ve accrued from paying down your principal. Most lenders will require you to maintain at least 20% equity in your home. Because your home is the collateral for any kind of mortgage, you risk losing it if you can’t make the payments.

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Savings Corner

APRIL 4, 2024

The steps may vary depending on whether you’re looking for debt consolidation loans , home improvement loans, medical loans or wedding loans. Personal loan qualification requirements Your credit score , income and debt are usually evaluated by personal loan lenders to see if you qualify.

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