Home Values Are Up. Here’s How to Use That to Your Advantage

Maurie Backman, The Motley Fool
·4-min read
Home Values Are Up. Here’s How to Use That to Your Advantage

Given the state of the U.S. economy over the past year, you'd think home values would be sluggish. With a cash-out refinance, you swap your existing home loan for a new one with a higher mortgage balance. If your home value has soared to $300,000, a mortgage refinance lender might easily agree to let you borrow $240,000.