what is a cash out mortgage A cash-out refinance is a home loan where the borrower takes out additional cash beyond the amount of the existing loan balance. It can be used for things like home improvements, to pay for college tuition, or to pay off credit cards.
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What Is Cashout Refinance A cash-out refinance mortgage is a common alternative to the home equity loan. While home equity loans usually have lower fees, the mortgage for a cash-out refinance often has a lower interest rate.
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