When considering refinancing your mortgage, there are two main options to choose from: cash out refinancing and rate and term refinancing. Cash-out refinancing involves borrowing against the equity in your home and receiving a lump sum payment at closing, while rate-and-term refinancing aims to chan https://www.bcpmortgage.com/post/cash-out-refinancing-vs-rate-and-term-refinancing-which-one-is-right-for-you