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Cash-Out Refinancing: How It Works, When To Do It

Savings Corner

Cash-out refinances are generally best for big-ticket costs: Think home renovations or major debt consolidation. Many borrowers use the proceeds for the following reasons: Home improvement projects: You could use a cash-out refinance to renovate your home or add an addition, for example. There are no limitations.

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Rent vs Buy Calculator: Should I Rent or Buy?

Savings Corner

Buy Calculator considers one-time costs — closing costs and the down payment — and ongoing expenses, like property taxes, an HOA fee, home insurance, and private mortgage insurance, or PMI, which you pay if your down payment is less than 20% on a conventional mortgage. Is renting always cheaper?

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