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You're confusing terms. That's a home equity loan, not a cash-out refinance.
by Sohcahtoa82 4y ago
You're confusing terms.
That's a home equity loan, not a cash-out refinance.
- endisneigh 4y agoI'm not. You can do something similar with a home equity loan, but you can also do a cash-out refinance. The main distinction is that a refinance, like a mortgage on a home you don't own out-right has a better rate than a home equity loan or HELOC