Compare Mortgage Options
There is rarely one right answer — there is the option that costs least over the years you actually plan to stay. These comparisons put two strategies side by side on the same figures: ways to refinance, ways to turn equity into cash, ways to lower the payment, and ways to clear the debt sooner.
- HELOC vs cash-out refinanceThree ways to turn equity into cash — cash-out refinance, HELOC and home equity loan — costed over the years you plan to stay.
- Compare all eight optionsThe full decision engine: every strategy costed on one set of your figures, ranked over your stay.
- Recast vs extra paymentsOne lump sum that lowers the required payment, against the same money paid as extra principal.
In progress
These comparisons are being written. Until they are, the full decision engine already costs every one of these strategies side by side using your own figures.
- Refinance vs keep your current mortgageWhether a new rate repays its closing costs before you move.
- HELOC vs home equity loanA variable line you draw against, against a fixed lump sum with a fixed payment.
- Recast vs refinanceRe-amortizing at your existing rate, against taking a new loan entirely.
- Recast vs extra paymentsOne lump sum that lowers the required payment, against paying extra every month.