Buying a home is a huge milestone, and the excitement of closing can lead many buyers to quickly accept any mortgage offer without fully understanding its terms. One important detail to watch for is whether your mortgage includes a prepayment penalty.
Consolidate Credit Card Debt with a Cash-Out Refinance
If you're feeling overwhelmed by credit card debt, a cash-out refinance may be an effective way to manage it. This type of mortgage allows you to utilize your home's equity to pay off high-interest credit cards, consolidating them into a single, lower-interest mortgage payment.
