Rising home values have translated into large equity gains over the past few years. As of 2024, homeowners hold an average of $315,000 in equity. A cash-out refinance allows you to tap into your home ...

Normally when someone has a low mortgage rate, they don’t refinance into a higher one ...

To get the refinance you want, you need to explain your goal in words that the lender understands. This is a guide to what to say, complete with sample sentences that you can use as you kick off a ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

While a cash-out refinance has many benefits, it’s important to consider both the pros and cons of this financial product before applying for one. A cash-out refinance lets you tap into the equity you ...

Are you saddled down by debt? If so, you may be eligible for a cash-out refinance to make your debt load more manageable. But is this a smart financial move? It depends on your financial situation.

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When someone gets a VA cash-out refinance, they are applying for a new loan, a new interest rate and new monthly payments. Veterans who qualify can apply for this loan in order to receive cash based ...

Home equity is at historic highs. If you've faithfully paid your mortgage over the years, you've likely built up quite a bit of it yourself. According to the Federal Reserve, American homeowners are ...

You’ve built up a significant amount of home equity and want to convert it into cash. Two common options are cash-out refinances and home equity lines of credit. Both can be appealing, but it’s worth ...

Compare today’s best mortgage refinance rates, compiled from hundreds of loan offers and analyzed by Investopedia’s mortgage rate experts.