Everything you need to know about home loans in one place. Use our "frequently asked questions" section to learn everything about mortgages, refinancing, home equity lines of credit and more.
A cash-out refinance allows you to take out a mortgage that’s larger than your current home loan-- and you get to keep the difference, in cash. For example, if you own a $400,000 house and owe $150,000 on the current mortgage, you have $250,000 in home equity. If you needed $40,000 to pay an expense like medical bills or a child’s college tuition, you could potentially take out a loan worth $290,000.
Read MoreNo matter what kind of mortgage loan you have on your home now, if you’re considering refinancing it, the whole world’s your oyster. That mortgage can usually be refinanced into anything else, including the popular FHA program. Before you jump into an FHA refinance, however, let’s look at what it actually involves. There may be additional fees involved that aren’t part of your current financial picture.
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