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Cash-Out Refinance
What It Is
A refinance that lets you replace your existing mortgage and take out extra cash using your home equity.
Best For
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Homeowners with significant equity
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Debt consolidation needs
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Home renovation or large expenses
Key Highlights
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Access to lump-sum cash
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Higher loan amount than current mortgage
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Cash can be used for any purpose
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Typically higher interest than rate-and-term
Why It’s Powerful
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Turns home equity into usable cash at lower rates than personal loans or credit cards.
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