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Should I Choose a Cash-Out Refi or HELOC?

When you need a chunk of cash for a project, your home may be the best source of funding. Fortunately, you do not need to sell your home to take advantage of your equity. There are two popular and practical ways to pull cash out of your home: a cash-out refinance mortgage and a home equity line of credit (HELOC). Cash-Out Refi’s A cash-out refinance loan replaces your existing mortgage with a new, larger loan, allowing you to take out cash in exchange for some of your existing equity. Lenders typically cap your cash-out refi at 80% of the home’s value. For example, let’...

February 20th, 2019 | Refinancing a Home, HELOC, Should I Choose a Cash-Out Refi or HELOC?

New York Mortgage Exchange

369 Avenue X
Brooklyn, New York 11223
Phone: 718-339-3600
Fax: 718-339-3655
Email: info@nyme.com
NMLS: 93848

Licensing

New York Mortgage Exchange (NMLS# 93848) located at 369 Avenue X, Brooklyn, New York 11223 is a Registered Mortgage Broker - NYS Department of Financial Services License A000701. Licensed Mortgage Broker NJ Dept of Banking & Insurance # 303170.

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