What are the tax implications of a cash-out mortgage refinance?
A cash-out refinance allows you to borrow from your home equity, or the difference between your current mortgage balance and the value of your home. If your home is worth $200,000, for example, and your current mortgage balance is $150,000, you have $50,000 in home equity.
Original Article Source Credits: Bankrate, https://www.bankrate.com/
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Link to Original Article: https://www.bankrate.com/mortgages/cash-out-refinance-tax-implications/