Cash-out refinance vs home equity loan: The better deal might surprise you

After all, your kid can take out federal student loans, but your nest egg won’t grow itself. Still, if you’re set on covering your child’s tuition, you have two options: Get a student loan for parents.

A cash-out mortgage refinance is a great option if you can get a good interest rate on your new loan and you have plans to spend the money wisely (debt consolidation or home improvement). Learn more about this program, and other refinance options, by making a 10-minute call to one of our salary-based mortgage consultants.

The first $5,500 bill last year came as a surprise. five to 30 years. The loans typically carry rates of 6.5% to 8.49%, meaning with today’s low-interest rates someone with good credit can often.

Are 3% mortgage rates in our future? For some, they are already here Tweet; New mortgage rules that start Jan. 10 might affect whether you can get a home loan. The rules will limit how much debt you can carry, the fees and interest rates lenders can charge and the types of mortgages a lender can issue.. Experts say that up to 95% of all loans issued today already follow these rules after lenders tightened their standards following the financial crisis.

Matthew

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