For example, if your house has gone up in value, you might do a cash-out refinance that enables you to pay off your existing mortgage while taking out, say, $50,000 in home equity you've gained ...

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’ll pay ...

A home refinance means obtaining a new loan to replace your mortgage. It’s different from getting a second or additional mortgage, such as home equity loans. Refinancing your mortgage doesn’t ...

A cash-out home refinancing can turn your equity into cash but there are factors to first consider. zen rial/Getty Images A cash-out refinance is one way to leverage your home equity.

Say you have an existing home equity loan worth $50,000, your home is worth $400,000 and you have a balance of $200,000 remaining on your first mortgage. Your debt totals $250,000.

You do a cash-out refinance for 75% of your home’s value, which is $225,000. You would use $150,000 of that to pay off your existing mortgage and maybe another $5,000 to cover closing costs.

Yet some home equity loans have repayment terms that stretch as long as 30 years, and there may come a time when you’ll want to consider refinancing your original home equity loan.

A cash-out refinance for home improvements lets you tap your home’s equity to make repairs or improvements.

How Does Mortgage Refinance Work? Maybe you’re looking to secure a lower interest rate, change your loan term or tap into your home’s equity. Whatever the reason, here’s how refinancing a ...

How does refinancing a home equity loan work? Each lender has its own process when it comes to securing financing. But here’s a general idea of what refinancing a home equity loan might look like.

Refinancing your mortgage is a significant financial decision, and knowing when to refinance is key. If you’re planning to remain in your home for years to come, extending your loan term to ...