What Is A Cash-Out Mortgage Refinancing?

What Is A Cash-Out Mortgage Refinancing? A cash-out mortgage refinancing is a type of refinancing where the homeowner takes out a new mortgage that is larger than the outstanding balance on the existing mortgage. The difference between the two loans is then paid to the homeowner in cash, hence the name “cash-out.”

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Before considering a cash-out refinancing, it is important to carefully consider the costs and benefits and determine if it is the right option for your specific financial situation.