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Tapping your equity to buy a second home

As home prices rise nationwide, so too does the value of your home's equity. That value can be monetized through a home equity loan, home equity line of credit or what is called a cash-out refinance . ... read more

How to Use Your Mortgage Cash-Out Refinance

Another benefit of using a cash-out refinance to improve your home is that the interest should be deductible. Under the Tax Cuts and Jobs Act, only interest on home loans used to buy, build or ... read more

Colorado home buying: 6 reasons to refinance your mortgage

It’s a popular loan option among homeowners who are not looking to stay in their home for too long or homeowners who are expecting a raise or promotion in the near future. Another option ... accessed ... read more

When is it smart to do a cash-out refinance?

When you refinance your mortgage, you get a new loan to replace the current mortgage. And if you have enough equity, you can do a cash-out refinance ... use equity because you're adding to the home's ... read more

How to Refinance Your Mortgage

You made it through one of the toughest challenges: buying a home. Now, perhaps just a few years later, you’re ready to refinance your mortgage ... by refinancing. Lowering your payment is usually the ... read more

Refinancing Your Home Equity Loan: A How-to Guide

Fannie won’t buy cash ... after doing a cash-out refi. That means your first mortgage plus your home equity loan can’t total more than $240,000. It’s good to understand how the calculation works, but ... read more

Why You Should Never Do a Cash-Out Auto Refinance

You may find yourself in a financial pickle every once in a while, and there may be that tempting allure of using a cash-out auto refinance ... You won't be able to refinance it again, and if the need ... read more

It's best to keep your home title to yourself

I could easily see a scenario where two good friends will want to buy a second home somewhere else like in ... Selling an equity interest in the property to another friend is hard as you will need to ... read more

Refinancing home opens opportunities

My wife and I are looking to buy ... cash-out refinance on our primary home, valued at $360,000. The original amount borrowed was $165,000. The balance is $100,000. I wish to pay off $40,000 in ... read more

Using a cash-out refinancing of your home to pay off a business loan

We have a business loan ... done a cash-out refinancing, in which you have taken money out of your home while increasing the debt load. Congratulations on getting an attractive rate. However, before ... read more

Ways to cash in on your home equity and the tax implications of doing so

“You can only deduct the interest on a home equity loan or line of credit if you use the money to buy or improve your home ... Two other ways homeowners can take cash out of their house are to apply ... read more

How to Get a Home Equity Loan If You Have Bad Credit

You can get a home equity loan or HELOC — known as a second mortgage — even with bad credit. That’s because you’re using your home to guarantee ... equity loan or HELOC, there is another option: a ... read more