Can you refinance a home equity loan?
Yes, like any other home loan, you can refinance a home equity loan if you find a better rate or a loan with features that better suit your needs. Refinancing also allows you the opportunity to access more of your equity (assuming the value of your property has increased, or you’ve made additional principal payments).
As with any refinance, it’s important to ensure that you will be in a better financial position, taking into account the costs associated with refinancing your loan.
You can find more information on refinancing here.
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- Refinancing