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Updated about 1 year ago on . Most recent reply

Liam Marshall's profile image
Liam Marshall's profile image
Liam Marshall
  • Member since Aug 7, 2023
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Liam Marshall's profile image
Liam Marshall's profile image
Liam Marshall
  • Member since Aug 7, 2023
Connect
Liam Marshall
13
Votes |
13
Posts
Starting Out

What is a cash-out refinance?

Liam Marshall
Posted

Ive looked up what a cash-out refinance is and everything I read or watch goes right over my head. If someone would be kind enough to give me a thorough and simple overview of what a cash-out refinance is and when and when not to use that would be much appreciated. 

Best,

Liam

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What is a cash-out refinance and when should it be used?
A cash-out refinance is when you replace your existing mortgage with a new, larger one to access the equity in your property, potentially useful for investing or consolidating debt, but it increases your loan balance and monthly payments.
Sources: River,Erik,Alex
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