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Mortgage Terms 101: Understanding ‘Cash-Out Refinancing’ and How to Determine if It’s Worth It

August 13, 2014 by Michael Addison

With interest rates remaining near historic lows for the past several years, many of your friends and neighbors may have already told you that they have refinanced their home mortgages once or even a couple of times. A cash-out refinance can provide you with several important benefits, but it is not the best option for all homeowners. By learning more about what a cash-out refinance is and what the pros and cons of this type of refinance loan are, you can make a decision that is best for your current and future plans. What Is a Cash-Out Refinance? When you refinance your home mortgage, you can select a rate and term refinance which does not pull equity out of your home, or you can select a … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Cash Out Refinancing, Mortgage Tips, Refinance

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