Discover the difference between home equity loans vs cash-out refinances. Learn the financial implications of each option for accessing property value.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews. Owning a home lets you build up equity that you can turn into cash when you need it. Some use equity to pay for home repairs or their child's college tuition. Others use it to pay off debts or for other financial needs, like medical bills or unexpected expenses. You can even use it as a financi ...
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.
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.
Learn the key differences between a cash-out refinance and home equity line of credit (HELOC) and see what could be the best option for you.
Of all the differences between owning a home and renting one, the opportunity homeowners have to build equity in their homes may be the most significant. Through a combination of market appreciation and years of mortgage payments, you could end up acquiring a substantial amount of equity in your home. You can cash out this equity when you sell the house or borrow against it to cover other expenses while you own it. One of the most popular ways to tap into your home equity is to get a home equity...
Learn about the advantages and disadvantages of a home equity loan vs a cash out refinance loan with help from U.S. Bank.
Whether you need funds for a new roof, an addition, or to pay off debt, a cash-out refinance is an option homeowners with substantial equity can consider. But before you get too excited about the idea of pulling thousands of dollars out of your house and into your bank account, it’s important to understand the advantages and disadvantages of a cash-out refinance. While many homeowners opt for a traditional rate-and-term refinance to get a lower mortgage rate or change the length of their loan,...
A home equity line of credit and a cash-out refinance are both ways to access value that has accumulated in your home. Another option to consider is a home equity loan.
Learn whether a home equity loan or a refinance loan is right for you with help from U.S. Bank.