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A no cash-out refinance is when a person refinances their home for less than or the same💲 amount they still owe on their current mortgage's principal, plus the closing costs on the new mortgage. Unlike cash-out refinances,💲 these do not offer a cash benefit.

Learn the differences between them! There are two main types of home refinances. Cash💲 out refinances, which allow you to get cash from the value of your home's equity, and no cash out refinances💲 which allow you to change the interest rate and terms of your current mortgage without taking cash from your equity.

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