MORTGAGE

A cash-out refinance is a mortgage-refinancing option in which an old mortgage is replaced by a new one with a larger amount owed on the previous existing loan. This ultimately helps borrowers use their home mortgage to get cash. When you opt for this option, you take out a new loan that’s bigger than your…

Many homeowners are being struck with the reality of the spike in mortgage rates. Hitting 5% on April 14, 2022, many potential homebuyers are seeking other ways to afford high home prices, with more buyers turning to adjustable-rate mortgages. If you are a potential homebuyer, or a current homeowner, it is important to understand your…