Credit Credit Cards Finance 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
DECEMBER 25, 2023
Cash-out refinances are helpful with major expenses, because you generally can borrow much more than you could with a personal loan or by using credit cards. If mortgage rates have increased since you bought your home, you may think twice before refinancing. Cons of a cash-out refinance Foreclosure risk. Time-consuming.
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Savings Corner
APRIL 4, 2024
Key takeaways Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both. With refinancing, you can change the loan type as well as your lender. Here’s how refinancing a mortgage works, the common options available to you and pros and cons to consider. What is refinancing?
Savings Corner
APRIL 4, 2024
Key takeaways Home equity loans and HELOCs are both financing tools that allow you to borrow against your ownership stake in your home. HELOCs (home equity lines of credit) come with variable interest rates and fluctuating monthly payments (like credit cards). A home equity line of credit (HELOC) is also secured.
Prairie Eco-Thrifter
NOVEMBER 25, 2012
Saving means that you deposit a sum of money, which you can generally add to over time, into an account with a bank, credit union, savings and loan or other financial institution. By throwing my spare cash at my high interest credit card debt, I would be saving money by reducing the amount of interest I would have to pay.
Prairie Eco-Thrifter
MAY 30, 2012
The same can be said about finances – it is often the little things you do, the small actions you take, that have the biggest impact on your financial security, both in the present and in the future. A budget helps you track your finances so you know exactly where you are and whether you’re on track. What have you done to rectify them?
Savings Corner
APRIL 4, 2024
You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. Lenders consider it when approving you for a mortgage or other home-based financing. As with a credit card, you borrow only what you need when you need it.
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