A Home Equity Conversion Mortgage lets homeowners 62 and older turn home equity into cash without monthly mortgage payments. Learn HECM eligibility, payout options, costs, borrower obligations, and the risks to weigh first.
Private mortgage insurance protects your lender, not you, and you can usually get rid of it. Learn the federal rules for canceling PMI at 80% and 78% loan-to-value, how reappraisals work, and ways to remove PMI sooner.
A cash-out refinance replaces your mortgage with a larger one and gives you the difference in cash. Learn how much you can borrow, closing costs, tax rules, risks, and how it compares with a HELOC or home equity loan.