Cash-Out Refinancing: How It Works, When To Do It
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. A cash-out refinance turns your home’s equity into cash by replacing your current mortgage with a new, larger mortgage. This can be a boon for your credit score.
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