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?

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Savings Corner

APRIL 4, 2024

Cash-out refinancing: With a cash-out refinance, you replace your existing mortgage with a new, larger mortgage. Another way to preserve your equity: Keep up with home maintenance and repairs. Once the draw period ends, you repay what you borrowed and any outstanding interest, typically over a 20-year term.

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Savings Corner

APRIL 4, 2024

Both act as second mortgages, using your home as collateral, and may offer tax deductions if the funds are used for substantial repairs or upgrades. Many borrowers use them to pay for major home repairs or renovations, like finishing a basement , remodeling a kitchen or updating a bathroom. homeowners as of year-end 2023.

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Prairie Eco-Thrifter

JANUARY 18, 2019

Home repairs and other payments will have to be made for those affected by tornados, volcanos, floods and earthquakes—and quickly. Some lenders even offer grace periods during late payments, zero prepayment penalties, and refinancing options for customers. But mother nature always manages to find a way to cause unavoidable disasters.

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Prairie Eco-Thrifter

MARCH 14, 2012

Vehicle repair costs if you crash. Related posts: No Cost Refinancing – Pros and Cons. Possible decreased credit rating – costing you higher rates on any future loan you make. Possible court and legal costs if you fight the ticket. Vehicle maintenance costs due to wear and tear from speeding up and braking more. AOL Autos [link].

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Savings Corner

DECEMBER 25, 2023

NerdWallet’s Best-Of Award Winner Best Mortgage Lender For Cash-Out Refinancing NBKC: NMLS#409631 5.0 It offers a significant volume of cash-out refinancing with unusually low origination fees. But how much of a down payment do you really need? That depends on the type of loan, your lender and your priorities. What is a down payment?

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Savings Corner

APRIL 4, 2024

Whether you need money to pay for an unexpected hospital bill, an emergency car repair or to finance some much-needed home renovations , knowing how to get a personal loan will help make the application process as smooth as possible. Run the numbers Before taking out a loan, decide exactly how much you need to borrow.

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