Option A

Option B

non Secured loan

CASH OUT REFINANCE

This takes two minutes and does not affect your credit score.

What is a cash-out refinance? A cash-out refinance replaces your current loan with a new one for
more than you owe on your home. You then get to keep part of the balance between your new loan
and your home’s value to use for things like home renovations, important life events, or to consolidate
debt. Just remember to pay it back!

If you use that money to buy, build, or
“substantially improve” your home, then
you might qualify for the mortgage interest
deduction on your taxes. That’s basically a
tax break for improving your home and
gaining equity!

In addition to lower interest rates on your

home, using the money from your cash-
out can help you consolidate debt and pay

off high-interest credit cards. In turn, that
will improve your credit score for your next
refinance or mortgage

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