3. Refinancing za mnogo nižoj stopi
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There are some advantages to cash out refinance. Just make sure that overall you are not going to be spending more money in fees and interest rates for cash out refinance in respect of home equity loan. When you do cash out refinance, you are
refinancing the entire loan. Let's say you owe $ 300,000 on your home and want to get $ 10,000 in cash out. If in refinancing your rate will be the same or more, then you will be losing an extraordinary amount of money in fees just to get a $ 10,000 loan. In a case like this, you would definitely like to go with a
home equity loan.
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home equity loans are better if:
home equity loans are better if:
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2 You need to borrow up to 100% of the equity in your home
3 You want a revolving credit line
4 Do you want the payment prior to or longer than the term of the rest of your
mortgage loan
1 Going to refinance anyway
2 Wanting to borrow a large percentage of your home equity
3 Refinancing for a much lower rate
3 Refinancing for a much lower rate
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3 Refinancing for a much lower rate
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