Is taking out a home equity loan or refinancing a home better?

Answer On One Hand: Cash-Out RefinanceA cash-out refinance is best if interest rates have fallen since you took out your mortgage. The cash-out refinance will lower the interest rate on the entirety of yo... Read More »

Top Q&A For: Is taking out a home equity loan or refinancing...

What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

Who is better off with a home equity loan?

On One Hand: Good for InvestmentsHome equity loans can be good for people who intend to use them for home improvements or to fund a child's college education. You can often deduct the interest you ... Read More »

Is a home equity loan or a line of credit better?

On One Hand: Home Equity Loan BenefitsHome equity loans are ideal for covering a significant expense such as a new car, or for consolidating credit card debt. The benefits of this type of loan incl... Read More »

What is better, a second mortgage or a home equity loan?

On One Hand: A Second Mortgage Is BetterA second mortgage is typically arranged at the closing of a first mortgage. It is either a line of credit or an installment loan. By taking out the second mo... Read More »