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Cash-out refinancing lets you take advantage of the equity you have in your home by paying off your existing mortgage with a new one that gives you a cash payout of the difference in the loan amount. Factors include your home down payment amount, updated appraisal on your home, and historical monthly mortgage payments. A cash-out refinance mortgage is a good option to lock-in a lower interest rate.
Best reasons to refinance a home loan. With mortgage rates nearing an all-time low, it’s a no wonder why people are looking to buy new homes and refinance their existing mortgages. It was only a … Read more