What is a cash out refinance loan?

Answer A cash out refinance of a mortgage allows a borrower to tap into the builtup equity in his home for other purposes, such as debt reduction, home repairs, or cash reserves. It increases the mortgage... Read More »

Top Q&A For: What is a cash out refinance loan

Is a cash-out refinance mortgage a non-recourse loan?

A non-recourse loan is secured against collateral. If the borrower defaults, the lender seizes the asset, and the lender can take no further action against the borrower, even if the value of the co... Read More »

Can you refinance a home equity loan and get cash out?

On One Hand: Yes, You CanYes, a borrower can refinance his home equity loan and receive cash out after the three-day right of rescission period has ended. Typically, the cash out is added to the de... Read More »

What is a no cash-out refinance?

No cash-out refinances create a new mortgage. The new mortgage amount cannot exceed the sum of the closing costs, remaining balance on existing mortgages and any discount points, according to Broke... Read More »

What is a no-cash out refinance?

No cash-out refinance mortgages allow homeowners to lower their monthly mortgage payment by refinancing at a reduced interest rate.ProcedureHomeowners must fill out a new loan application for consi... Read More »