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2. Mortgage refinance: What is it and how does it work? - AOL

   www.aol.com/finance/mortgage-refinance-does...

   Key takeaways. Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both. With refinancing, you can change the loan type and lender. To refinance a mortgage, you ...

3. Cash-out refinance: What it is and how it works - AOL

   www.aol.com/finance/cash-refinance-works...

   A cash-out refinance turns your ownership stake into ready money by replacing your current mortgage with a new, larger loan. You receive the difference between the two in a lump-sum payment. You ...

4. Pros and cons of a cash-out refinance - AOL

   www.aol.com/finance/pros-cons-cash-refinance...

   Cash-out refinance pros. Access to a large sum: The biggest upside of a cash-out refinance is that you get the money you need by unlocking home equity you already have. Lower interest rate: A cash ...

5. Cash out refinancing - Wikipedia

   en.wikipedia.org/wiki/Cash_out_refinancing

   The difference between cashout refinancing and a home equity loan are as follows: A home equity loan is a separate loan on top of a first mortgage. A cash-out refinance is a replacement of a first mortgage. The interest rates on a cash-out refinancing are usually, but not always, lower than the interest rate on a home equity loan.

6. FHA cash-out refinance guide - AOL

   www.aol.com/finance/fha-cash-refinance-guide...

   With an FHA cash-out refinance, you’d be able to borrow up to $320,000 — 80 percent of your property’s value. In this case, $200,000 of that would go toward paying off your existing mortgage ...

7. Best cash-out refinance lenders of 2024 - AOL

   www.aol.com/finance/best-cash-refinance-lenders...

   620 for conventional loans, 740 for jumbo loans. 4.8. PenFed Credit Union. 650 for conventional loans, 700 for jumbo loans, 620 for FHA loans. 4.7. Rocket Mortgage. 620 for conventional loans, 680 ...