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2. Home equity loan or HELOC vs. cash-out mortgage refinance - AOL

   www.aol.com/finance/home-equity-loan-heloc-vs...

   Amount owed on primary mortgage + second mortgage(s) ÷ appraised home value . Let’s say you owe $60,000 on your first mortgage and want to open a HELOC for up to $15,000. Your home is worth ...

3. Should you use a HELOC to pay off your mortgage? - AOL

   www.aol.com/finance/heloc-pay-off-mortgage...

   Another way to pay off your current mortgage is by refinancing it. A refinance replaces your current mortgage loan with a new one, offering the option to change the interest rate, loan term or ...

4. Home equity loan or HELOC vs. reverse mortgage: Which is ...

   www.aol.com/finance/home-equity-loan-heloc-vs...

   With a home equity conversion mortgage (HECM), a lender is restricted from imposing fees exceeding $2,500 or 2 percent of the initial $200,000 of the home’s value, plus an additional 1 percent ...

5. Home equity line of credit - Wikipedia

   en.wikipedia.org/wiki/Home_equity_line_of_credit

   Furthermore, their popularity may also stem from having a better image than a "second mortgage", a term which can more directly imply an undesirable level of debt. However, within the lending industry itself, HELOCs are categorized as a second mortgage. [2] HELOCs are usually offered at attractive interest rates.

6. Refinancing a home equity loan: When and how to do it - AOL

   www.aol.com/finance/refinancing-home-equity-loan...

   If the real estate market has already softened, you might not be able to refinance at all. Longer debt: Refinancing your home equity loan will reset the repayment term. Unless you specifically ...

7. Home equity loan - Wikipedia

   en.wikipedia.org/wiki/Home_equity_loan

   Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education. A home equity loan creates a lien against the borrower's house and reduces actual home equity. [1] Most home equity loans require good to excellent credit history, reasonable loan-to-value and combined loan-to-value ratios.

8. When should you refinance your mortgage? - AOL

   www.aol.com/finance/when-to-refinance-mortgage...

   By refinancing, you’d save about $220 on your monthly payments and nearly $30,000 in interest payments over the life of the loan, and it would take you about three years to recoup the closing ...

9. Types of mortgage refinance: How to choose - AOL

   www.aol.com/finance/types-mortgage-refinance...

   Reverse mortgage: A reverse mortgage isn’t a refinance in the traditional sense. It allows homeowners aged 62 and older (sometimes 55 and older) to turn their equity into income.