Best reasons to refinance your mortgage Lower your interest rate.. Using a cash-out refinance to pay for fancy vacations, a new car or RV, invest in iffy ventures, or to splurge on other.
cash out refinancing rates Cash Out Refinance Home Equity Loan · As the value increases, you gain more equity in your home. With a cash out refinance, you can tap into that equity to accomplish your financial or home improvement goals. When you refinance you pay off the existing mortgage loan and get extra cash out to cover other debt you’d like to pay off or make home improvements.