Using the equity in your home for needs such as college
tuition or home improvements or remodeling can be a low
interest and tax deductible (see tax advisor) option.
With a cash out refinance, you refinance for more than you
currently owe, then keep the difference between the old and
new loan balance. Cash out
refinance is sometime preferred over a home equity loan when
the borrower can also simultaneously lower their interest
rate or payment. It is also preferred because it is
easier to have only one loan and one
payment as opposed to two loans and two payments.
Mortgage Refinance Calculator
