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.

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Savings Corner

APRIL 4, 2024

What is mortgage refinancing? Mortgage refinancing is when you replace your current home loan with a new one. Just like any other loan, you apply for refinancing, which includes a thorough check of your credit, income, employment history and finances. Ideally, you’ll also get a lower rate in the process.

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Savings Corner

DECEMBER 25, 2023

How to use the mortgage calculator Under “Home price,” enter the price (if you’re buying) or the current value (if you’re refinancing). NerdWallet also has a refinancing calculator. Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance.

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Family Balance Sheet

JUNE 24, 2021

They can cause a panic, especially when just one bill is into the four figures, like our property taxes or auto insurance! But let me show you how to budget (and pay) for yearly bills with a strategy I’ve used for years. Years ago, April sent me into a panic and a scramble to find the funds. Update your list.

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Prairie Eco-Thrifter

MARCH 16, 2011

If you find ways to reduce your mortgage payments, you could wind up saving a lot of money each month. This extra money can be used to fund your retirement account or pay down some bills. Regardless of what purpose you decide to use this money for, it is always a good idea to get a lower mortgage payment whenever possible.

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Savings Corner

APRIL 4, 2024

Once you’ve zeroed in on your loan amount, run some numbers using a personal loan calculator. You should also check their rates and use them with a personal loan calculator to get the most accurate idea of what your monthly payment will be. Most lenders have websites with secure portals you can use to upload requested documents.

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