Discover the difference between home equity loans vs cash-out refinances. Learn the financial implications of each option for accessing property value.
We’ll break down the differences between a cash-out refinance vs. a home equity loan, and help you narrow down which option is best for you.
Interested in getting a cash-out refinance? Find and compare cash-out refinance rates from Bankrate's wide selection of lenders.
In some cases, such as refinancing certain VA loans, you can borrow 100% of your home value. The key to estimating a cash-out refinance is determining your home’s value. For example, if...
A cash-out refinance lets you refinance your mortgage, borrow more than you currently owe and keep the difference as cash. Find out how it works.
If you want to use the value of your home to access extra cash, you have two main choices. The first is a cash-out refinance loan, which allows you to replace your existing mortgage with another larger loan, and keep the extra cash. The other is taking out a line of credit using your house as collateral. This home equity line of credit, or HELOC, is often referred to as a “second mortgage.” ; Cash-out refinancing allows you to convert your home equity into cash and take out a loan that is la ...
The process of getting approved for a VA cash-out refinance is similar to applying for a conventional refinancing option. See how it works.
Explore your options: home equity loan, HELOC or cash-out refinance. Understand the pros and cons of each option and choose the right approach for your goals.
Use this cash-out refinance calculator to estimate how much you can borrow as well as what your monthly payments and overall cost will look like.
A VA cash-out refinance can help military veterans and service members convert more of their home’s equity to cash than other standard loan programs