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Cash-Out Refinance Loan: How it Works, Options & Get Rates. – A cash-out refinance replaces an existing mortgage with a new loan with a higher balance, sometimes with more favorable terms than the current loan. The difference between these two loans is distributed to the homeowner as cash.
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What Is a Cash-Out Refinance? – Zillow: Real Estate, – Homeowners do cash-out refinances so they can turn some of the equity they’ve built up in their home into cash. Read on to see if it’s the right choice for you.
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What is Cash-Out Refinancing? | Zillow – A cash-out refinance is a refinancing of an existing mortgage loan, where the new mortgage loan is for a larger amount than the existing mortgage loan, and you (the borrower) get the difference between the two loans in cash.