Homeowners Guide

Cash-Out Refinancing, A Guide for Homeowners

Cash-Out Refinance: An In-Depth Guide for Homeowners

Cash-out refinancing is a popular financial strategy that allows homeowners to tap into their home’s equity, converting it into cash.  This method involves replacing your existing mortgage with a new loan that is larger than the remaining balance on the current mortgage.  Here’s what you need to know about cash-out refinancing and how it can …

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Rate-and-Term Refinances

What is a Rate-and-Term Refinance?

Rate-and-term refinancing is a financial strategy where borrowers replace their existing mortgage with a new loan.  This new loan typically offers different interest rates or terms but does not allow borrowers to receive cash back.  This form of refinancing focuses solely on modifying the interest rate or the loan’s duration—or both. Unlike a cash-out refinance, …

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