Pros and cons of a cash-out mortgage refinance

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If you've been following the news lately, you know that mortgage rates are at historic lows amid the coronavirus pandemic. Typically, when mortgage interest rates are low, borrowers refinance in order to lower their monthly payments. However, with a cash-out mortgage refinance it’s also possible to use the equity that you’ve built up in your home to cover a big expense.

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Original Article Source Credits:   Fox Business , https://www.foxbusiness.com/

Article Written By:  Tara Mastroeni

Original Article Posted on:   January 22

Link to Original Article:  https://www.foxbusiness.com/money/cash-out-mortgage-refinance-pros-and-cons

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