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On other hand if you are:
1. Going to refinance anyway
2. Wanting to borrow a large percentage of your home’s equity
3. Refinancing for a much lower rate
Then, a cash out refinance loan may be best for you. Of course, best way to tell is to actually sit down and do math. These are just guidelines; real test is in math. You can consult a refinance calculator and a home equity loan calculator and figure out which one will save you most money in long run. Compare total amounts you will spend in interest and fees. If you are planning on a cash out refinance, make sure that you are refinancing with a low enough rate to justify fees to refinance. Your loan specialist should be able to help you figure out which one is best for your needs.
To see a list of recommended mortgage loan companies who can offer cash out options online, visit this page: www.abcloanguide.com/mortgageloans.shtml - Carrie Reeder is the owner of ABC Loan Guide. It is an informational loan website, with informative articles and the latest finance news.