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What’s the difference between cash-out refinancing and a home equity loan?

April 26, 2017cash-out difference equity great Home home equity loan option refinancing run-down

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What’s the difference between cash-out refinancing and a home equity loan?

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A refinance is a replacement of your old mortgage; a home equity loan is a second loan on top of your mortgage. A home equity loan might be a good option if interest rates are higher now than when you got your mortgage, or if you plan to repay the equity part fairly quickly. Get started Use our simple two-minute form to get connected to up to 5 mortgage lenders, who will work with you to answer any questions you may have.