Home Equity vs. Cash-Out Guide checklist
Questions to ask a lender
The short version
Ask each lender to quote the options it offers side by side so you can see the trade-off.
Last reviewed against the primary sources listed below.
Second liens
- Is this a line of credit or a fixed loan?
- What is the draw period, and what happens after it ends?
Cash-out refinance
- What would the new first mortgage cost to close?
Both
- What fees apply each year?
- How would the lien order affect a future refinance?
How to use the answers
Enter each option into the blended rate check to compare them.