With the housing market on fire, home prices have steadily risen for the past several years. The result has been an enormous amount of home equity for American homeowners.
When considering a HELOC vs cash out refi from your mortgage broker, first understand what a home equity line of credit and a cash out refinance are, then make a decision based on your specific circumstances.
A lot of factors go into determining YOUR mortgage refinance rate, which is why the record low rates being advertised today might NOT be what you qualify for.
Every year an average of 21 million people apply for mortgages in the US, and only around 7 million close. I'm on a mission is to change that by spreading mortgage education. Sign up for my newsletter to be a part of my Mortgage Peace Movement!
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