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If you need money for things like home improvements, debt consolidation, or investments, you may be tempted by a cash-out refinance.
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Learn about cash-out refinance mortgages and find out if accessing your home equity is right for you. check mortgage refinancing rates at Wells Fargo.
The FHA cash-out refinance option allows homeowners to pay off their existing mortgage, and create a larger home loan that provides them with extra cash. The amount of money that can be borrowed depends on the amount of equity that’s been built up in the home’s value.
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Need extra cash to help with home repairs or debt? Find out how we can help you tap into your home's equity with a cash-out refinance. Get started today!
A cash-out refinance is a home loan where the borrower takes out additional cash beyond the amount of the existing loan balance. It can be used for things like home improvements, to pay for college tuition, or to pay off credit cards.
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If you have enough equity in your home, you may be able to refinance to take cash out. Taking cash out means refinancing your home with a larger loan amount. Your new loan pays off your existing loan, and you get to pocket the difference. Many homeowners take cash out to pay off high-interest debt or fund home improvements.
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