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Allison Martin on Muck Rack

Allison Martin

Florida
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Articles

What is a cash-out refinance? Here’s what you need to know

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By Allison Martin
| Decatur Daily Verified
A cash-out refinance replaces your current mortgage with a new, larger one. It includes the remaining balance of your original loan plus an additional amount that you’ll withdraw in cash. This cash comes from your home’s equity. You’ll receive the cash in a lump-sum payment. You can use this money for any purpose, including home remodeling, debt consolidation, college tuition or other financial needs. -- How does a cash-out refinance work?
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What is a cash-out refinance? Here’s what you need to know

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By Allison Martin
| Texarkana Gazette Verified
A cash-out refinance replaces your current mortgage with a new, larger one. It includes the remaining balance of your original loan plus an additional amount that you'll withdraw in cash. This cash comes from your home's equity. You'll receive the cash in a lump-sum payment. You can use this money for any purpose, including home remodeling, debt consolidation, college tuition or other financial needs. HOW DOES A CASH-OUT REFINANCE WORK?
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What is a cash-out refinance? Here’s what you need to know

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By Allison Martin
| The Spokesman-Review Verified
A cash-out refinance replaces your current mortgage with a new, larger one. It includes the remaining balance of your original loan plus an additional amount that you’ll withdraw in cash. This cash comes from your home’s equity. You’ll receive the cash in a lump-sum payment, and you can use this money for any purpose, including home remodeling, debt consolidation, college tuition or other financial needs. A cash-out refi is similar to a regular refi (also called a “rate-and-term” refi).
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