Cash Out refi
Definition
Refinancing for an amount in excess of the balance on the old loan plus settlement costs. The borrower takes "cash-out" of the transaction. This way of raising cash is usually an alternative to taking out a home equity loan. For a discussion of the relative merits of the two approaches, read Debt Consolidation With a Cash-Out Refinance.
Related Terms Other terms related to 'Cash Out refi' starting with the letter 'C' Conversion option, COFI, Credit score, Cumulative interest, Current index value Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 